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René Lauritsen
The Fed just made the toll real

Jun 19, 2026

The Fed just made the toll real

Last week’s funding question got a hawkish answer. Now what?

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Anthropic's most powerful model is gone. So is your access.

Jun 17, 2026

Anthropic's most powerful model is gone. So is your access.

Four days live, then switched off to comply with a US export order — for non-US citizens.

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The kill-switch era — why AI-provider continuity is now a board risk

Jun 17, 2026

The kill-switch era — why AI-provider continuity is now a board risk

The most capable model on the planet was switched off by government order for everyone outside one country.

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Oracle beat everything. The bill came anyway.

Jun 12, 2026

Oracle beat everything. The bill came anyway.

The AI trade has a new question: who pays for the buildout?

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Who pays for the AI buildout? The funding ladder test

Jun 12, 2026

Who pays for the AI buildout? The funding ladder test

Oracle beat on everything and fell 9%. SpaceX asked the market for $75bn and got it. The same week, two inflation prints made money more expensive.

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Anthropic’s best model decides WHAT you ask

Jun 10, 2026

Anthropic’s best model decides WHAT you ask

Claude Fable 5 is in your plan until 22 June. Then the meter starts. Anthropic just shipped the model it feared

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The trusted-access era — why your company’s identity is the new API key

Jun 10, 2026

The trusted-access era — why your company’s identity is the new API key

This week the most capable AI model ever released shipped as two products: one for everyone, one for the vetted — the same system behind two different doors. That split isn’t a safety footnote; it’s a new business model arriving in plain sight.

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They beat. They raised. They fell anyway

Jun 5, 2026

They beat. They raised. They fell anyway

The AI trade just changed the rules on what counts as good news.

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How to classify your AI holdings: the reset / crack / hype test

Jun 5, 2026

How to classify your AI holdings: the reset / crack / hype test

This week the market punished a 200% grower and rewarded a one-sentence compliment. The newsletter showed you the regime shift; this is the tool to act on it

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Your AI bill just became personal

Jun 3, 2026

Your AI bill just became personal

Copilot started metering tokens this week. Read this before your next invoice.

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The metering era — and the flat-rate comeback nobody’s pricing in

Jun 3, 2026

The metering era — and the flat-rate comeback nobody’s pricing in

This week AI stopped being free to try. The major tools are converging on pay-per-token billing, and the bills are landing. But when a market races to the meter, it leaves something behind —

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Yields blinked. Memory ran.

May 29, 2026

Yields blinked. Memory ran.

Rates eased — and the rally didn't pick the leader you'd expect.

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The AI memory map: why HBM became the chokepoint — and how to read the re-rating

May 29, 2026

The AI memory map: why HBM became the chokepoint — and how to read the re-rating

Three memory makers crossed a trillion dollars in a single week.

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Your next job title might be “agent manager”

May 27, 2026

Your next job title might be “agent manager”

3 AI agents per employee. Now what? Why “managing agents” may be your next job.

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How to read an “AI-native restructuring” from the outside

May 27, 2026

How to read an “AI-native restructuring” from the outside

Companies are rebuilding their org charts around AI agents before the proof exists that it works

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Nvidia beat everything. The stock fell anyway

May 22, 2026

Nvidia beat everything. The stock fell anyway

On Wednesday night Nvidia printed the cleanest quarter of its life — record $81.6 billion in revenue and a Q2 guide that sailed past every estimate on the Street. By Thursday’s close the stock was down 1.8%.

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The AI duration map: what a 5% long bond does to each layer of the stack

May 22, 2026

The AI duration map: what a 5% long bond does to each layer of the stack

Nvidia printed the best quarter in its history and the stock fell. That isn’t a story about Nvidia — it’s a story about the discount rate. Here is the whole AI stack, sorted by how far out its cash flows sit, and what a 19-year high in long-term yields does to each layer.

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 The $3,400 cloud bill in 24 hours

May 20, 2026

The $3,400 cloud bill in 24 hours

One developer. One agent. Why three companies just bet against the cloud. Why your AI agent is moving off the cloud

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Everyone won this week. That's the problem.

May 15, 2026

Everyone won this week. That's the problem.

Wednesday repaints the next quarter. Pick your path before then.

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Three catalysts, seven days, one print: the asymmetry going into NVDA earnings

May 15, 2026

Three catalysts, seven days, one print: the asymmetry going into NVDA earnings

Nvidia added a Switzerland-sized market cap in a week. Cisco proved AI revenue. Trump landed in Beijing with Jensen Huang on the plane. Three binary catalysts now stack into the next three trading days

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The exploit that gave itself away

May 13, 2026

The exploit that gave itself away

It hallucinated its own CVSS score. Then it nearly worked.

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Why the CAIO can’t save you

May 13, 2026

Why the CAIO can’t save you

The fourteen enterprise functions that have to be rebuilt before agentic AI is safe to deploy — and the three the org-chart approach gets wrong by default.

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OpenAI's $18B chip deal hit a wall. Microsoft built it

May 8, 2026

OpenAI's $18B chip deal hit a wall. Microsoft built it

The custom-silicon insurgency just discovered who actually pays.

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Why the custom-silicon insurgency keeps hitting the financing wall

May 8, 2026

Why the custom-silicon insurgency keeps hitting the financing wall

OpenAI, Broadcom, and Microsoft just exposed the structural problem with every Nvidia alternative: someone has to underwrite a programme designed to compete with their own future revenue. They won’t. Here’s what that means for AVGO, NVDA, ORCL, and CoreWeave — and the three signals that decide who wins the next twelve months.

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The deal you didn't know you lost

May 6, 2026

The deal you didn't know you lost

Anthropic's agents just out-negotiated humans. Nobody noticed. Anthropic's agents beat humans. Quietly. The losers couldn't tell. That's the problem. Read on.

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