Galaxy Digital's 9.875% Data Centre Bond Costs More Than Its Tenant's Debt
Galaxy priced $3.507bn of secured notes at 9.875% against CoreWeave rent. CoreWeave itself borrows near 5.9%. The four-point gap is what a name costs.
Artificial Intelligence
How AI is changing the way ordinary people relate to money, work, and financial decisions. The human side of the machine.
VC Has Never Had More Money. The Problem Is Where It’s Going
Record funding is fueling an AI Boom, but investors still need to ask where the returns will come from.
NVIDIA's OpenAI Backstop in Ohio: How a Chipmaker Turns AI Compute Into an Asset Class
NVIDIA is guaranteeing OpenAI's lease at the PORTS-Pike AI campus in Ohio. The residual-value backstop is how a chipmaker turns compute into an asset class.
The Deterministic Advantage Fintechs Already Own
How fintechs and banks can safely give AI agents payment authority.
OpenAI Disrupted a Russian Influence Operation: When a Private Company Does a Government's Job
OpenAI detected, named and shut down a covert Russian influence operation on its platform. What it means when a private company does a government's job.
Ant International's FalconTST 2.0: Forecasting AI Built for Finance, and Why Finance Needs Different AI
Ant International's FalconTST 2.0 is forecasting AI built for finance. Why finance needs a different kind of AI, how MASE ranks it against big tech, and who uses it.
Why financial regulation needs a different kind of AI
General-purpose AI can explain financial regulation but not interpret it. Why specialist, source-cited regulatory AI is what compliance work actually needs.