Chips, data centres, networking, power and the capital cycle behind compute.
The Claude developer applied on 26 October 2026 to list on Nasdaq as ANT. Revenue for the six months to 30 June was 14 times the year before, and almost 90 per cent of the $80.7bn net loss is a non-cash charge for the rising value of its own convertible notes.
The dominant supplier of accelerated computing for AI training and inference, and increasingly a platform company spanning chips, networking, software and robotics.
Frontier model developer behind ChatGPT, with a growing focus on agents, enterprise deployment and consumer scale.
Global provider of power distribution, cooling and automation systems, and a critical supplier to the AI data centre build-out.
Where capital becomes compute.
AI data centres are purpose-built facilities that house dense clusters of accelerators, with power, cooling and networking designed for training and serving large models.
The buildings, cooling, networking and grid connections that turn capital into compute.
Frontier and open-weight models, reasoning systems, small models and the economics of intelligence.
The electricity demand of AI, and the generation, storage and grid investment racing to meet it.
A five-item daily brief: what happened, why it matters and what to watch. Written by the desk, verified by editors.
