🚨 THE GRID JUST REPRICED AI.
AI did not suddenly stop growing. Wall Street simply remembered that data centers require electricity, debt has a cost, and revenue backlog is not the same thing as free cash flow.
âš¡ Microsoft just walked away from a major Nscale data center commitment because adequate grid power may not arrive until the early 2030s. At the same time, CoreWeave lost roughly a quarter of its value last week as investors attacked the economics of its heavily leveraged infrastructure model.
📉 The Nasdaq dropped 2.1 percent Friday, the VIX jumped more than 21 percent, and Asia opened weaker Monday. But U.S…
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