a place to find the hidden convexity in the future of ai, robotics, and space.

PJM withdrew Oklo's 750 MW interconnection request from its Cycle 01 study on August 3, the same day it announced 715 new generation projects had qualified into that cycle; the deficiency PJM relied on was a NextGen portal comment that sent no email notification and, per the complaint, went up on business day 41 against a 15-business-day tariff deadline ↗

PJM pulled the $OKLO project out of the queue to connect to the grid the same day it put out a press release saying 715 new power projects had qualified to get into that same queue.

A notice on file at the SEC to sell 5,000,000 NVIDIA shares for director Mark Stevens, about $1.09 billion, against 1,848,501 shares the Form 4 reports actually sold; the notice names two selling entities, the Form 4 covers one ↗

a notice went on file at the SEC on Wednesday to sell 5,000,000 NVIDIA $NVDA shares, about $1.09 billion, for one of its directors. that notice is a Form 144.

A grocery chain, a private jet club and a company that sold a wellness ring until June each put an AI data center into an SEC filing inside three weeks; the only figure filed as running today is Corvex's ~1.5 MW, and every pitch is the same scarce input, energized power inside a finished building ↗

a grocery chain, a private jet club and a company that was selling a wellness ring for women until June have each put an AI data center into an SEC filing inside the last three weeks.

Ciena says cloud providers buying directly from it were 53% of revenue last quarter, up from 40% a year ago, with two unnamed customers at 41.7% of the quarter; the product line it points at is scale-across, linking AI training clusters in different data centers to run as one machine ↗

Ciena $CIEN makes the fiber gear that links one data center to another, and it said this morning that cloud providers buying directly from it were 53% of its revenue last quarter, up from 40% a year ago.

AeroVironment wins a $464.8M Army award it calls the first production contract for a laser weapon in US history, after six decades of directed-energy programs the CRS says were cancelled before maturity ↗

AeroVironment $AVAV just won a $464.8 million US Army award it calls the first production contract for a laser weapon in US history, covering dozens of its LOCUST X3 systems.

Argan posts record revenue building gas plants while its backlog falls a third straight quarter, each drop larger than the last: $44M, $162M, $249M; ~15% off the October 2025 peak ↗

Argan $AGX just posted a record quarter building gas-fired power plants, and the pile of signed work behind it has shrunk three quarters in a row.

Broadcom guides Q4 AI semiconductor revenue to $21.7B, more than the whole company's revenue a year earlier; Q3 AI revenue $16.7B (+221%), growth accelerating to +236% ↗

Broadcom $AVGO just guided next quarter's AI chip revenue to $21.7 billion, more than the entire company's revenue in the same quarter last year.

the US government is buying ~10% of Trilogy Metals with $35.6M and gets ~12.3M more shares at a penny each, but only once Phase 1 of the Ambler Road is built ↗

the US government is buying ~10% of the Alaska copper company Trilogy Metals $TMQ, and the penny-a-share warrants that come with it only switch on once the Ambler Road is built.

two 8-Ks within an hour on the same problem, powering a data center without waiting for the grid: Vertiv pays ~$1.45B cash (~13x expected 2027 EBITDA) for a 2020-founded microgrid builder, and FuelCell's ~10 GW proposal pipeline sits behind a factory running at 37.1 MW a year ↗

Vertiv $VRT is paying ~$1.45 billion in cash for UtilityInnovation Group, a company founded in 2020 that builds power systems so a data center can run without waiting for a grid connection.

Washington has lined up ~$3.3B behind domestic antimony while US buyers pay ~2.3x China's price — the receipts at three names, and the road money moved today ↗

a grocery company becomes the landlord on a $1.25B AI data center lease — and its already-energized site rents ~16% above Applied Digital's Polaris Forge 3 ↗

the layer that builds HBM just printed record numbers, and almost nobody is looking at it — eight companies, each in its own filed numbers ↗

the layer that builds HBM just printed record numbers, and almost nobody is looking at it: Hanmi (042700 KS) makes the TC bonders that stack HBM.

the tungsten scrap order took effect Aug 27 exactly as filed — 100% of US sales stay domestic for a year ↗

the tungsten scrap order we flagged on Aug 16 took effect on the 27th exactly as filed: 100% of US black mass and tungsten scrap sales must stay domestic for the next year, per the Federal Register. zero public comments have posted so far. the docket runs to Nov 4.

United States Antimony's CEO buys $98,400 sixteen days after his own guidance cut — no trading plan on the Form 4 ↗

the CEO who cut United States Antimony's $UAMY guidance and sent the stock down more than 20% in a day just put $98,400 of his own money back in.

Holtec is pouring permanent concrete at Palisades for two reactors it has no permit to build — half the application isn't filed ↗

Holtec is pouring permanent concrete at Palisades in Michigan for two new reactors it has no permit to build. the NRC exemption clearing the work published in the Federal Register on Friday.

the 15GW that can't be turned on in 2027 is already itemized in filings — FERC pause, one GOES mill, 4.2/1.5 GW, $1M per flowing MW, $105B guarantee, cooling at 11x ↗

Elon says ~15GW of the AI compute built in 2027 can't be turned on in 2027, and that the hard part is transformers, wiring, cooling and chillers, not finding the power.

Volato's 8-K: the landlord of one data-center lease gets 1.5% of the company at $0.0001 a share, and shareholders get no vote on the merger ↗

a private jet membership company is about to become an AI data center company, and Volato $SOAR shareholders don't get a vote on it. the 8-K says it flat: closing 'is not subject to approval of the Company's stockholders'.

SLB pays ~$3.4B cash for Kelvion — cooling priced as a toll on every delivered gigawatt ↗

an oilfield services giant just paid ~$3.4 billion in cash for a heat exchanger company, and the reason is AI data centers. SLB $SLB is buying Kelvion at ~11 times its expected 2026 EBITDA, per this morning's 8-K.

USAR shareholders approve the Serra Verde share issuance 108,248,297 to 1,403,269 — the deal itself has not closed ↗

USA Rare Earth $USAR shareholders approved the Serra Verde merger share issuance on Friday. the 8-K with the count landed this morning: 108,248,297 votes for, 1,403,269 against.

SK hynix breaks ground on America's first HBM plant — first chip H2 2029, after $267B of NVIDIA's $279B memory bill has come due ↗

America's first AI-memory plant just broke ground in Indiana. its first chip arrives in the second half of 2029, months after most of NVIDIA $NVDA's $279 billion memory bill has already come due.

Standard Nuclear's order book grew six-fold to $576.9M — its own filing says that number should not be relied upon ↗

NVIDIA disclosed guarantees capped at $105B for SB Energy's PORTS-Pike campus (4.25 GW, NVIDIA infrastructure under 20-year leases to OpenAI) — 30x its $3.5B existing AI-cloud guarantee book; phases begin fiscal 2029; option on ~3.8 GW more ↗

NVIDIA's purchase commitments jumped $119B → $279B in one quarter, 'primarily related to the procurement of memory' — $92/87/88B across the next three fiscal years; inventory $31.6B ahead of Vera Rubin ↗

Dominion shelved North Anna 3 — a fully licensed 1,453 MW reactor now in deferred status — one of six NRC combined-license reactors (7,407 MW) that nobody has built ↗

Target Hospitality raised its full-year earnings outlook 22% off one contract: housing ~1,100 workers building a top-five hyperscaler's West Texas data center — ~$250M contracted revenue through Aug 2030 against <$15M of build cost ↗

US government publishes floor prices for the four magnetic rare earths: 15-year take-or-pay on 100% of Serra Verde Phase I; DoW funds $750M, $250M above what the contract required; the $1.55B headline total includes a bank facility the 8-K says is not documented, closed or funded ↗

XPeng sold a stake in its humanoid robot unit Dogotix at a $6.3B valuation; the same filing grants the $600M of outside investors a right to force Dogotix, its subsidiaries or XPeng itself to buy the shares back at a floor of 120% of cost if there is no IPO within seven years ↗

Madison Air's chairman Larry Gies is buying $620M of the ~$2.25B private placement his own company filed today at $24.97/share, which releases the EUR 1.3B equity commitment he had signed to fund the ebm-papst purchase ↗

All six US grid operators asked FERC to pause its data-center connection rule instead of writing it; the Aug 17 deadline passed with no rule in force. FERC granted PJM's pause on deadline day; CAISO's window runs to Nov 16 ↗

Navitas' 8-K prices the Claros deal at ~$232.8M; the same filing carries a separate ~$28.9M employee stock pool, an all-in of ~$261.7M, with ~$45.6M tied to milestones in a schedule left out of the public filing ↗

The CFTC just asked whether GPU-hours should trade like oil — and put the unpriced compute market at $430B–$1.3T a year ↗

the US futures regulator just asked whether an hour of time on an Nvidia B200 should trade like a barrel of oil.

Rumble's $13.7B GPU order came with a penny warrant — 50,808,408 shares at $0.01, and a filed admission the buildout isn't financed ↗

$RUM told the sec this morning that an unnamed us cloud customer agreed to buy ~$13.7 billion of gpu capacity at its maysville, georgia site. and in return, the customer gets the right to buy 50,808,408 rumble shares at a penny each.

Google's Marvell warrant: 97.7% of the ~$12.2B only vests if Google buys $120 billion of chips first, in 240 tranches of $500M, and the 8-K calls those purchases discretionary ↗

Google just took the right to buy ~$12.2 billion of Marvell stock, $MRVL. 97.7% of it only becomes real if Google buys $120 billion of chips from Marvell first.

Applied, Lam and KLA all report China as a smaller share of sales — in dollars, China isn't shrinking: KLA's China revenue is flat across two years while its total grew 38% ↗

Applied Materials $AMAT, Lam Research and KLA all report China as a smaller share of their sales this year. in dollars, China isn't shrinking.

Moderna's CEO sold 499,246 shares two weeks before the +177% day because the options behind them expired Aug 10 — he sold only what the exercise cost, kept 252,469, and his 22.2M-share stake gained about $2.48B in a day ↗

Moderna's CEO Stéphane Bancel sold 499,246 shares on August 5. two weeks later, $MRNA closed up 177% in a day on a cancer trial result. per the filing he made on August 7, those shares came from stock options that were about to expire.

Unitree closed its first day on the Shanghai market up 460% — the first public price for humanoid robotics, and US money structurally can't reach it ↗

the NRC put a 60-day clock on the first-ever restart of a shut-down US reactor — the window starts at fuel load ↗

Centrus tied 100% of its CEO's $5M bonus to uranium coming out of a first cascade that isn't built yet — deadline undisclosed ↗

NVIDIA's definitive Portsmouth 8-K caps the OpenAI guaranty at 105 billion dollars, below every number the press printed for three weeks, and thirty times its entire prior guarantee book ↗

NOAA opened the environmental review on The Metals Company's second Pacific seabed claim, a Pennsylvania-sized area queued behind a 1980 American law ↗

Core Scientific's merger agreement prices an extra megawatt of flowing power at exactly one million dollars, with a December 31 expiry on the clause ↗

the famous transformer shortage runs through exactly one American mill, and the Pentagon locked up its steel without competition ↗

the US ordered 100% of tungsten scrap sales to stay domestic from Aug 27, and the number that says whether the country can process it is not public ↗

DOE gives eleven uranium companies a Section 708 antitrust defense, and calls its own 400 GW target beyond any company's business plan ↗

eleven uranium companies just got federal antitrust cover to work on supply together, under a DOE plan of action filed under the Defense Production Act.

NRC accepts Orano's bid to re-enrich the Cold War tails pile into HALEU-band fuel ↗

the US has spent decades paying to get rid of leftover uranium from the Cold War. Orano just applied for a license to run that pile back through an enrichment plant and sell it as reactor fuel.

Microsoft accepts Horizon 1, the first 50MW building of IREN's $9.7bn contract ↗

Microsoft just took delivery of the first building under a $9.7 billion contract. IREN said in an 8-K exhibit that Horizon 1 has been delivered to and accepted by Microsoft.

July PPI: the board layer repriced 165% while the chip layer kept deflating ↗

the AI buildout just showed up in the government's own factory-price data, split in two.

NioCorp's Elk Creek feasibility study puts 5 rare earth products inside a project the market reads as niobium ↗

one ore body in Nebraska is now designed to produce eight separate critical minerals at once, and five of them are rare earths.

US Antimony cuts FY26 guidance from $125M to $60-75M — leaving 36 cents a pound between cost and sale ↗

the company that calls itself the only fully integrated antimony producer outside China and Russia just cut its own 2026 revenue forecast from $125 million to $60-75 million.

CoreWeave has 4.2 GW of power under contract and 1.5 GW actually switched on ↗

CoreWeave has contracted nearly three times more power than it currently has switched on: contracted power reached 4.2 gigawatts as of the Aug 11 Q2 call, while active power sits at 1.5 GW.

Riot signs a $9.1B, 20-year lease with a frontier AI lab — and names bitcoin sales as the equity funding source ↗

a bitcoin miner is selling its own bitcoin to become an AI lab's landlord: Riot Platforms filed an 8-K saying it has executed a data center lease with a leading frontier AI lab for 191 MW of critical IT capacity at its Rockdale, Texas campus.

China's tungsten-powder exports to Japan have gone to zero ↗

China's exports of ammonium paratungstate to Japan went from 688 metric tons in 2024 to 158 tons in 2025, and have been zero since January.

DOE pays Centrus $900,000,000 for one metric ton of HALEU ↗

the DOE is paying Centrus $900,000,000 for one metric ton of high-assay low-enriched uranium. the contract text went public as exhibit 10.3 to Centrus's 10-Q — the funded line delivers a single metric ton.

Lam Research FY26 10-K: Taiwan revenue tripled in two years while China stayed the biggest market ↗

Lam Research filed its FY26 10-K for the year ended June 28. Taiwan revenue more than tripled in two years, from $1.67B in FY24 to $5.22B in FY26, while China stayed its single biggest market at $7.86B.

Unitree's Shanghai STAR IPO: 71.46 billion shares of offline demand, 2,760x the tranche ↗

Unitree's Shanghai STAR Market IPO drew 71.46 billion shares of offline institutional demand, 2,760.67 times the offline tranche before the strategic placement adjustment — the first pure-play humanoid-robot listing.

US War Department commits $400M to the first primary scandium mine ↗

"No primary mine-source scandium supply exists globally, and foreign competitors dominate the supply side, accounting for approximately 80% of global mining production and nearly 100% of scandium processing."

SK Hynix's board commits 45.02% of total equity to two new fabs in one session ↗

SK Hynix's board committed 45.02% of the company's total equity to two new memory fabs in a single session on August 7, and filed the two approvals with the SEC as separate 6-Ks the same day.

Situational Awareness LP sold 45% of its Core Scientific stake in two Aug-3 block trades; the 13D/A names no buyer ↗

Situational Awareness LP sold 45% of its Core Scientific stake in two Aug-3 block trades — 11,519,078 shares, about $225.6 million — taking it from 8.1% to 4.4%. The 13D/A names no buyer.