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Search company analysis, valuation work, project economics, financing research, risk reviews, and methodology notes. Each publication exposes its status, assumptions, source coverage, limitations, and revision history.
20 of 20 publications
NUAI
TCDC's power agreements and local planning progress strengthen its development prospects. Turning them into shareholder cash depends on phase-specific permits, deliverable IT capacity, tenant acceptance, reliable infrastructure and a financeable lease.
NUAI
Supporting documents, engineering sensitivities and peer comparisons for the NUAI/TCDC eight-gate investigation, preserving dates, contractual boundaries, assumptions and unresolved project evidence.
NUAI
A hypothetical CoreWeave default is not the same as a collapse in AI compute demand. This source-based fundamental analysis examines GPU liquidation, direct hyperscaler leases, competing distressed sites, and the financing risk to New Era Energy & Digital's TCDC development, using SEC disclosures and explicitly illustrative stress tests.
NVDA · GOOGL · IREN · CRWV · CIFR · NBIS
Cheaper intelligence can attract more paid work without guaranteeing more resource consumption or attractive investor returns. This research tests those three propositions separately, using 43 sources, 16 visuals and transparent hypothetical calculations across compute, power, contracts and financing.
NUAI
NUAI’s contracted Phase 1 electricity can support leasing and project finance, but a wider spark spread does not automatically become shareholder profit. This analysis separates generator margins, regional gas discounts and tenant power recovery, using public filings and clearly labeled illustrative calculations. The undisclosed PPA pricing formula and eventual tenant lease remain decisive.
NUAI
Historical August 4, 2026 TCDC analysis preserved for comparison. The linked v2.7.1 correction release retains an October 8 valuation date and the original October 11 Pacific recorded research date; exhaustive end-of-day coverage is not certified. Its strategy, taxpayer cash and conditional financing comparisons supersede the historical figures below.
Industry research
The Big Beautiful Bill changes project economics unevenly. The durable advantage may belong to developers that turn today’s incentives into usable, financeable power.
IREN · NUAI · WULF
This report examines the credit channel linking frontier-model economics to data-center and power-development finance. Version 1.1 adds two explicit circuit breakers: proprietary providers can retain disproportionate monetization after losing token share, and stronger technology balance sheets can substitute for weaker standalone lab credit. The likely near-term result is financing bifurcation rather than uniform contraction.
Circle · Tether · Visa · Mastercard · JPMorgan · DTCC · Broadridge · Coinbase · Robinhood · CME Group · Cboe · Nasdaq
The evidence supports a material market-infrastructure shift, but not literal QE or a systemic crypto-backed bank-credit multiplier. Effects are concentrated in short-term Treasury demand, dollar distribution, payments and collateral mobility.
Ucore Rare Metals
The Louisiana SMC is Ucore's principal operating asset, but it is not the entire portfolio. This five-year SOTP separately values Louisiana, a risked Canadian Sm/Gd SMC, Bokan-Dotson Ridge, external RapidSX optionality, corporate cash and overhead, then models the funding and dilution required to reach commercial scale.
IREN
A current preliminary cohort-cash DCF mapped to the live Google Drive workbook. The analysis distinguishes IREN's official capacity stages, cohort financing, five-year primary GPU life, non-core post-contract tail economics, residual support, revenue sharing, and public community-model reference outputs.
SPCX
A current probability-weighted sum-of-the-parts DCF based on SpaceX's filed segment results, disclosed AI contracts, buildout targets, capital requirements, dilution, institutional market checks, and an explicitly low-probability Elon Case.
Pulsar Helium
A source-backed valuation of Pulsar Helium's Topaz project that distinguishes contingent and prospective resources from reserves, short-duration test rates from sustainable commercial feed, the reserved equipment package from all-in installed cost, and project funding from common-shareholder value.
IREN · WULF · CIFR · APLD · NUAI
A practical framework for understanding when higher long-duration yields should compress infrastructure values and when contracted NOI growth can offset part of the pressure.
APLD · IREN · WULF · CIFR · NUAI
A practical framework for modeling capital draws, construction-period interest, contingencies, completion support, and dilution before stabilization.
IREN · NUAI · WULF · CIFR · APLD
A reader's guide to phase-level DCFs, execution probabilities, timing, financing, dilution, and terminal value.
NUAI · WULF · CIFR · IREN
A methodology for distinguishing national reserves from the regional, hourly, and infrastructure-constrained gas deliverability that actually matters to data-center generation.
IREN · NUAI · WULF · CIFR · APLD
A six-gate framework for assigning different present values to operating, contracted, funded, permitted, and conceptual capacity.
IREN · NUAI
A precise explanation of why a full-build output can be valid without implying that the company is worth that amount today.
WULF · CIFR · IREN
A demonstration peer analysis that normalizes capacity definitions, contract structures, capex responsibility, financing, and dilution before comparing valuation.