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The GPUs Backing AI’s Debt Halve in Value Every Four Years
CoreWeave trades at replacement cost. Nebius trades at nine times it. The spec sheet decides.
Oct 27
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SOMEN Research
2
Two Stacks in Orbit
The map that converged at one lithography chokepoint now extends upward - and in orbit, the two AI stacks have swapped positions.
Oct 20
•
SOMEN Research
Musk’s Chip Fab Got $1.66 Billion in School Tax Breaks. The Filings List 1,000 Jobs.
The tax arithmetic on Terafab, from the filings nobody divided.
Oct 15
•
SOMEN Research
1
780,000 GPUs. The Efficiency Number Is Five Months Old.
xAI’s fleet is about 780,000 accelerators and still growing. The one number that says what that fleet actually extracts is five months old.
Oct 14
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SOMEN Research
Who Owns Musk's $119 Billion Chip Fab? The Paperwork Says SpaceX, Not Tesla
The state-filings teardown of Terafab, Musk's planned Texas chip fab
Oct 12
•
SOMEN Research
$1.29 Billion Filed. No Price Anywhere.
The short version
Oct 8
•
SOMEN Research
2
Committed, Not Utilized
The compute financing ledger, both sides
Oct 6
•
SOMEN Research
September 2026
Not Publicly Computable
What the robot market’s marks actually measure
Sep 29
•
SOMEN Research
The Bigger Stencil
The 12-inch mask standard has a clock. Its supply base has not bought a ticket. And the layer it runs on is the one China cannot currently localize.
Sep 22
•
SOMEN Research
1
1
Anthropic's $543 Billion Compute Ledger: Every Deal, Graded
Anthropic's compute commitments, itemized: $543B total - $64B filed, $180B company-confirmed, $299.1B press-reported.
Sep 15
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SOMEN Research
1
Memory After the Sold-Out Years
Three Paths and a Wall
Sep 10
•
SOMEN Research
Nscale: $103 Billion Claimed, $21 Million Filed
The roadshow claims $103B in contracted revenue. The only audited lines anywhere in the group sum to $21M.
Sep 7
•
SOMEN Research
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