Not so long ago, making a satellite phone call from a remote corner of the planet was an ordeal. You had to lug around a brick-sized device, angle it precisely toward the sky, and pray for a faint signal. Even then, the connection was often scratchy, and the bills were exorbitant, turning a simple conversation…
According to the Wall Street Journal, Electronic Arts is close to a $50 billion take-private deal led by a consortium including notably Silver Lake and Saudi Arabia’s Public Investment Fund (PIF). If confirmed, this would mark another milestone in the ongoing consolidation of the gaming industry, following Microsoft’s $69 billion acquisition of Activision and Take-Two’s…
Microsoft announced yesterday that it has been testing a new chip cooling technology based on microfluidics, which it says removes heat up to three times more effectively than today’s data center liquid cooling standard, cold plates that are placed on top of chips. The approach channels liquid coolant directly into the processor through microscopic, vein-like…
Yesterday, Nvidia announced a $5 billion investment in Intel, alongside a joint development agreement that will allow both companies to break into markets they previously couldn’t reach. In the PC segment, Nvidia dominates discrete GPUs for workstations and gaming, but laptops have always been out of reach. With roughly 150 million units sold annually, this…
U.S. Energy Secretary Chris Wright stated yesterday at the International Atomic Energy Agency’s annual conference that the United States is “furiously at work” to rebuild its nuclear fuel supply chain and called for a significant increase in strategic uranium reserves. Data from the IAEA highlight the urgency: U.S. uranium inventories cover only about 14 months…
In recent weeks, awareness has grown that water is becoming both a major challenge for data center developers and a major opportunity for water technology companies—suggesting the water theme could emerge as a derivative play on AI and further boost our portfolio performance (up 18% YTD, largely outperforming all water funds/ETFs). A clear example came…
Nebius, which rents out AI infrastructure, has announced a landmark $17.4 billion agreement with Microsoft over five years, potentially ramping to $19.4 billion. Under the deal, Nebius will deliver dedicated capacity to Microsoft from its new New Jersey data center. This represents a transformational win for Nebius, a significant position in both our AI and…
We have long argued that SpaceX is on track to disrupt the global telecom market. Yesterday, the company took a decisive step in that direction with the announced $17B acquisition of EchoStar’s 50 MHz S-band spectrum in the US along with its global spectrum licenses. SpaceX’s Starlink initially focused on providing broadband internet to underserved…
Cameco announced last night a cut to its production guidance for the McArthur River mine, one of the world’s largest and highest-grade uranium deposits. Output is now expected at 14–15 million lbs in 2025, down from the previous 18 million lbs target, as operations were hampered by development delays and the timing of ground freezing.…
The software sector has remained a minefield for investors this year, in line with our scenario (see our June 2024 report). So far, only two clear winners of the AI revolution have emerged—Microsoft and Palantir, both core holdings in our portfolios—while many other software vendors face the risk of being disrupted by AI. That said,…