Nvidia funds the labs that buy its chips. Why the circular financing behind the AI boom is a balance-sheet risk owners and family offices should price now.
Qualcomm's AI200/AI250 and a reported $10B move on Tenstorrent target the inference layer, where Nvidia is weakest. Why owners should watch the chips, not the headlines.
Big Tech reportedly cut about 142,000 jobs in 2026 while committing roughly 700 billion dollars to AI infrastructure. What the layoff-to-capex shift signals for leaders.
Anthropic launched Claude Fable 5 on June 9, 2026 and a US export order pulled it within days. What it means when a single government can switch off your AI.
AI is removing the junior work that trains future experts. The real risk is not this year's payroll, it is an empty bench of seniors a decade out.
The first roles AI thins out are not front-line workers but the coordination layer above them. What 2025-2026 data shows, and what leaders should do.
Frontier AI subscriptions can change, retire models, or read your prompts. Why family offices should own a private, sovereign AI agent, not rent one.
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One considered note on infrastructure, governance, and measurement, most mornings. No theory.