Archive • TVI Newsletter • Buttondown

AI Demand Is Surging, but Returns Are Still the Question (Week of 2026-10-03 to 2026-10-09)

October 10, 2026

Editor's Note Chipmakers described demand they cannot meet, and AI companies laid out enormous spending plans. But the week also brought a closer look at...

AI Spending Keeps Climbing, but Rates and Customers Still Matter (Week of 2026-09-26 to 2026-10-02)

October 3, 2026

Editor's Note The period opened with oil and bond yields pushing borrowing costs higher. A weak jobs report then cut traders’ bets on an October rate hike....

The Rate Shock Catches Up With the AI Buildout (September 2026)

September 26, 2026

Editor's Note The Federal Reserve raised interest rates by a quarter point in a unanimous vote, ending a three-year pause and choosing to fight inflation...

AI Spending Kept Climbing as Money Got More Expensive (Week of 2026-09-12 to 2026-09-18)

September 19, 2026

Editor's Note AI demand stayed strong while the cost of money moved higher. The Fed raised rates, oil remained above $100, and the 10-year Treasury yield...

AI Demand Exploded as Oil and Rates Pushed Back (Week of 2026-09-05 to 2026-09-11)

September 12, 2026

Editor's Note The AI infrastructure boom became easier to see this week, and so did its cost. Oracle has enormous demand, but negative free cash flow and...

AI Demand Got Bigger, And So Did The Rate Problem (Week of 2026-08-29 to 2026-09-04)

September 5, 2026

Editor's Note The period started with disputed rate-hike odds and ended with stronger jobs, high services prices, and expensive energy keeping a September...

AI Demand Was Real, But the Bottlenecks Got Real Too (Week of 2026-08-22 to 2026-08-28)

August 29, 2026

Editor's Note This week made the AI buildout feel less like a story and more like a physical supply chain. Nvidia delivered huge growth, IREN showed how fast...

The AI Moat Is Moving From Chips to Capital (Week of 2026-08-15 to 2026-08-21)

August 22, 2026

Editor's Note AI demand became more tangible this week, expressed through long-term contracts, power commitments, custom silicon partnerships, and financing...

AI Infrastructure Meets the Cost of Capital (Week of 2026-08-08 to 2026-08-14)

August 15, 2026

Editor's Note AI demand moved from an industry forecast to a contracting, pricing, and financing story. Compute capacity is increasingly being presented as...