𝐓𝐡𝐞 𝐢𝐍𝐝𝐢𝐆𝐨 €𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐯𝐞

Elon Musk says voltage transformer shortage is the main bottleneck for scaling AI now. Transformer lead times have stretched from 40 weeks pre-pandemic to 2.5-3 years now, so grid connection wait times have also jumped to years. For planned data centers, on-site generation and behind-the-meter arrangements are the only options to come online under two years. Independent power producers and electrification enablers will be the obvious winners from this trend. $VST $TLN $NRG $SEI $ET $GEV

$ASTS is down over 12% because the market still struggles to value what the company is trying to build in the new space economy. They're trying to turn satellites into cell towers in space by letting normal phones connect directly to coverage without a dish, special hardware or new SIM card. Instead of selling directly to consumers, it sells satellite capacity to carriers meaning AST essentially provides the sky and carriers provide the customer relationship. The upside is a global coverage layer built on top of the existing mobile ecosystem.

Kevin Warsh inherits the highest 10-year yield of any incoming Fed chair since Greenspan in 1987.