Jim Chanos

@CedarStResearch So there is such a shortage of compute going forward that the biggest consumer of it is thinking about selling some of its capacity?

Wait, what…?! (So OpenAI wants to sell compute, too?)

$150M mkt cap company announced development of a $100B AI data center site. $NUAI

So the cash-incinerating company at the epicenter of the AI Ecosystem, whose CEO is already taunting non-existent short-sellers, wants Federal taxpayer guarantees on its debt issuance…?! AYFKM…???!!! https://t.co/Xhermqu3n3 (2) The OpenAI CFO has walked-back her comments. https://t.co/JYsupY8ipd

A number of you have asked what our $IREN Microsoft deal analysis looks like with no residual value for the GPU’s at the end of Year 5. As you can see below, an uneconomic deal becomes a really bad deal without the residuals. This deal is a bet on long-term GPU values. https://t.co/0CzpRIwNVj

Exactly

We did this ROIC/IRR/MOIC analysis of the $IREN deal with $MSFT, being as generous to IREN as possible. We used 5-yr life for the GPU’s, with 20% residual value. And only considered the supercluster/acceleration costs for the DC buildout at Childress. https://t.co/EA69kqVuO2 (2)Yet despite these favorable assumptions for the deal, you can see that the ROIC (7.7%) and unlevered-IRR (10.2%) figures are both below $IREN’s cost-of-capital. The 20% IRR figures people are throwing around are ridiculous. This is a financing deal, w/IREN taking all the risk. (3) And as a further “sanity check”, the 77,000 GB 300 GPU’s in this deal are being rented-…

AI Data Center Chorus: “Land and power are real bottlenecks.” $FRMI: “Hold my Lone Star!” https://t.co/XPIiGXSalV

So $MSTR tapped its ATM common equity facility again at only a 1.3x mNAV last week? https://t.co/1d84hbNrUV

@mikealfred (2) In addition, the $14-16M per MW DC buildout cost is even higher than the $10M figure I had been using, which Mikey (and others) scoffed at. Now comes the fun part…raising the $. $IREN

Wait, what…?!

Another subprime auto lender stops originating loans - Auto Finance News https://t.co/4dOrYHDQfl

“Future stock price, Bro!”

Meanwhile, back on the Red Planet… (2) Wait, I’m being told there is more… https://t.co/pXNdRf3dRu

The BBG Hopper GPU Rental Index with a big move down in late-October. Now down 28% Y/Y. https://t.co/d0NvXpTyED

A reminder that these $ERIE results mean very little without seeing the results from their unconsolidated insurance operations (Erie Exchange).

@BitcoinPierre @ColeMacro @Strategy How are you still falling for this nonsense, Pierre…?! They are simply adding leverage to the same trade. Investors can easily do the same thing themselves, but cheaper. $MSTR

@BitcoinPierre @ColeMacro @Strategy Alternative Translation: “Lend us money, and we will buy Bitcoin.”

@ColeMacro @Strategy Translation: “Give us money and we will buy Bitcoin.” $MSTR

For those of you claiming $GOOGL GPU’s are still in use after 7-8 years…there’s a reason for that. They are designed specifically for Google applications like YouTube.

They are promising Level 4 autonomy next year(!), which I doubt will happen. But, it does validate my view that Level 4 autonomous vehicles will be widely available (Standard equipment?) by 2030-32. Has huge implications for $TSLA’s valuation. $NVDA $LCID

“80% of ($TSLA’s) value will come from Optimus.” https://t.co/iJrnnsLw3c

@joeenergy4130 @DeItaone If they don’t want to put the GPU’s on their balance sheets, do you really think they want to finance the plants that power them?

Surgery soon…?!

Elected officials explain how $FRMI first came to their attention : Amarillo Tribune https://t.co/RjL9boTYvx (2) So let me get this straight: Fermi only acquired the land rights from Texas Tech this summer, but expects to power-up 1 GW there in the 2H of 2026…?! Where are all the power/regulatory bottlenecks I keep hearing about? (To be clear, I do not think $FRMI will meet this goal) https://t.co/zSHXodUD7o

This slide from $NRG’s recent deck on future power needs, highlighting forward curve power prices, violates a number of current AI-narratives. https://t.co/hjxWjhWu7I

Great clip. Three years after the @packers Glory Years, and two years before the Rise of the @steelers . Still, Starr vs Bradshaw.

@sleepingdogo @BradMunchen $TSLA had $6.8B($1.94 per share) of FCF in the LTM, of which $2.1B ($0.60) was regulatory tax credits, and $2.5 ($0.70) was SBC. So not much “real cash flow”.

“Hello, DOGE…?!”

Virtually every customer in $DASH’s US urban markets knows that report is NOT false. The Dashers that the app says are delivering your food are not the same people actually doing so, even if the Dasher on record signed-up legally.