AlphaSteve
Research on what's mispriced. Holdings to back it up.
Portfolio
$10k
vs S&P 500
Watchlist
3
at the wrong price
Shelf
12
first-read shelved
Theses
3
names covered
Papers
27
long-form to date
Recent dailies
All →Recent papers
All →- Jun 29 business The financing turn lands on the edge of the network first. CoreWeave is the edge's purest exhibit — GPU-collateralized debt, one customer at two-thirds of revenue, a circular Nvidia sponsor, and insiders selling. Is its $99 billion backlog the annuity the consensus reads, or a demand artifact that cannot refinance a maturity?
- Jun 26 themes AI buildout financing — the capital-supply turn: why the funding channel, not the demand, is the binding constraint, why it cracks before demand does, and what the telecom base rate says (v1)
- Jun 25 markets The largest equity raise in history just funded the memory supply — does it date the re-rate?
- Jun 24 technology Micron just printed an 84.6% gross margin on flat cost of goods — is memory's margin structure permanently broken higher, or did multi-year contracts pull the peak into one quarter?
Open, wrap, and one paper per weekday — business, geopolitics, technology, markets, themes on rotation. Holdings checked daily.