Compute & Inference Economics · Tokyo
Nebius's $643M purchase of 20-person Eigen AI, valuing inference optimization at $32 million per engineer, and CoreWeave's $21 billion Meta deal signal that the neocloud race now centers on extracting maximum tokens per GPU rather than GPU count.
Compute Economics · Infrastructure
Hyperscalers are pouring $700 billion into 2026 data center capex while the cooling market grows 19.2 percent annually, reshaping per-token energy costs for inference.
Compute · Inference Economics
Nebius's $643M acquisition of a 20-person MIT inference-optimization spinout resets neocloud valuations as CoreWeave books $27B in weekly deals and xAI builds its own chip fab.
As CoreWeave locked $21 billion in Meta and Anthropic deals in 48 hours and xAI may become a neocloud in orbit, the per-token economy is reshaping who builds, who pays, and who captures the margin in AI infrastructure.
Compute & Inference Economics · GPU Markets
While reserved H100 contracts surge to $2.35 per hour, spot pricing hits $3.80, fueling a widening spread that's reshaping the AI infrastructure stack as enterprise GPU fleets languish at 5% utilization.
Reserved H100 pricing surged 38% in six months, but the widening spread between spot and reserved GPU instances reveals a deeper supply-demand imbalance in the AI infrastructure market.
Compute Economics · GPU Markets
While reserved H100 pricing surged nearly 40% in six months to $2.35/hour, spot GPU markets are reshaping AI compute economics via idle capacity, forward curves, and a 5% utilization crisis.
Compute & Inference Economics · Energy
As hyperscale AI capex tops $200B in 2026 and cooling infrastructure grows at 19.2% annually, the true per-token energy cost reveals a hidden margin shift that few invoices disclose.
Compute & Inference Economics · GPU Markets
The GPU market's 2026 split pits $1.12/hr spot instances against $2.35/hr reserved H100 contracts, with enterprises hoarding idle capacity that drives both prices upward.
Compute & Inference Economics · GPU Markets
Reserved-contract GPU pricing has surged 38% in six months while spot availability tightens and enterprise fleets idle at 5% utilization—the per-token math is shifting faster than procurement cycles can track.
AI · Economics
Of $122B raised, $84B is committed to compute through 2028. We worked the unit economics with the public cloud invoices, the H200 contract pricing, and the internal projections that have leaked.