Institutional-grade equity research on AI infrastructure, power, and the capital cycle. Synthesized from the same data pipeline that feeds the MCP endpoint.
Uber doesn't intend to win autonomy. It intends to own the demand and operations layer autonomy plugs into. A digest of what management actually said about robotaxis across two earnings calls.
A long-dated options map of autonomous-vehicle hardware shows the market charging the most for the layer facing the biggest binary, the least for the layer that cannot lose the race, and hedging none of it.
The market buckets the neoclouds as a single AI-infrastructure theme. The tape says they are three different bets wearing one name. A cluster map of CRWV, NBIS, and the miner-pivot pack against the AI megacaps.
Four independent skeptics, one stretched valuation, and a retail crowd buying the opposite. The gap between the crowd and the careful money is the story.
Two AI labs crossed a threshold where their own products materially shorten their own development cycle. This is what offline recursive self-improvement looks like at the lab level — and what trades it implies.
A chart of cumulative frontier model releases per lab, with explicit methodology. Anthropic and OpenAI show accelerating cadence; Google, Meta, and DeepSeek don't.