[music] Good Friday morning. I'm Yind executive editor Brian Sazy and this is opening bid a site for my chat shortly with Beiju bot. Beiju is the co-founder of Robin Hood but he has been spending this year [music] scaling up a new satellite venture.He tells me his young company is about to have a milestone moment. This chat is moments [music] away. Here's what's on my mind right now though.Like Oracle, earlier in the week, Broadcom shares were getting cooked after earnings. The reason for the sell-off is al ...

Joining us this morning to discuss is Gil Lauria of DA Davidson. Gil, thanks for joining us on the fly. Still looking for some reputation of the report out of Bloomberg, but I wonder if you think one's coming.It's very possible. I mean, if we're to connect the dots here, uh, let's not forget Cororeweave told us their data centers were delayed. They blamed it on weather and core scientific.But what's likely if you connect that to these reports, we're going to start wondering whether OpenAI has the capital to ...

Company Overview - Vistra Corp. is the largest competitive power producer in the U.S., operating around 60 generating plants, with approximately half of its output serving Texas, meeting about 25% of the state's electricity needs [1][2] - The company serves 5 million homes and businesses nationwide, with a workforce of about 7,000 employees [1] Market Dynamics - Texas has the 10th-largest power market globally, accounting for about 10% of the U.S. electric grid, and has pursued a more competitive market structure than other states [3][4] - Since 2000, Texas has attracted over $100 billion in capital for power generation, with no costs passed onto customers [5][6] - The Texas electricity market allows for open access, enabling the construction of various types of power plants without needing prior approval from the Public Utility Commission [4][5] Grid Resilience and Changes - Following the February 2021 freeze, Texas implemented Senate Bill 3 to enhance winterization and emergency preparedness for utilities [6][7] - The grid has seen an increase in battery and solar energy integration, which can help during winter days, but challenges remain in ensuring reliability during extended cold spells [8][9] - The ERCOT system lacks a reserve and capacity market, which are present in other states, raising concerns about grid redundancy and reliability [9][10] Demand Trends - Texas has experienced a 5-6% growth in energy demand over the past two to three years, with data centers and industrial customers adapting their energy usage based on grid conditions [15][16] - The consumption of power by data centers could rise from 3-4% to 9-10% of total consumption, driven by increased electrification and demand from various sectors [18][19] Nuclear Power and Future Outlook - Texas operates two nuclear plants, with one recently relicensed to operate into the 2050s, providing reliable energy generation [21][22] - The cost of building new nuclear facilities remains high, but there is potential interest from large tech companies for carbon-free generation options [24][26] Price Trends and Market Challenges - Electricity prices have been rising across the U.S., with Texas not experiencing the same level of increase as other states, although the trend is concerning [26][27] - The retirement of coal plants and challenges in building new assets in other states have contributed to tighter supply and demand dynamics, leading to price pressures [28][29] - The Texas Energy Fund aims to incentivize gas plants amid rising construction costs and increased renewable penetration, highlighting the need for a balanced energy strategy [31][32]

Group 1: Gas and LNG Market Dynamics - The race for AI supremacy and the development of data centers powered by gas-fired plants is increasing gas demand, which will be closely monitored in the coming years [1] - Capital investment for LNG liquefaction plants is rising, with standard capex now at $1,100-$1,200 per ton, approximately 20% higher than projects sanctioned in 2022-23 [2] - The Title Transfer Facility (TTF)-Henry Hub differential is currently around $4 per MMBtu, the lowest since early 2021, which will be significant as Golden Pass LNG begins operations [3] Group 2: US Natural Gas and LNG Outlook - The end of the Biden administration's LNG pause is expected to unleash around 7.6 Bcfd of future feedgas demand, doubling total feedgas demand by 2030 [4] - Market conditions for future Gulf Coast LNG projects will differ from the previous wave (2016-2021), with higher breakeven prices and downward pressure on LNG prices due to global supply increases [4] - US oil and gas industry shows long-term bullishness for gas, despite short-term challenges, with Henry Hub gas prices remaining above $5 per MMBtu [5] Group 3: US Oil Production and Financials - Public US oil-focused E&Ps have maintained production levels despite expectations of slowing output, with most having a corporate breakeven near $60 per barrel [6] - Operators may reduce payout ratios to protect output, as seen historically when oil prices fell, allowing for cash preservation for long-term investments [7] - Efficiency gains in shale operations are expected to continue, with improvements in drilling and completions driving down unit costs [9] Group 4: Technological Advancements and International Expansion - Operators are adopting new technologies to enhance operational efficiencies, with a focus on ultra-long lateral wells and advanced fracturing techniques [9][10] - The use of novel proppant blends, such as petcoke, is gaining interest to improve well performance amid Tier 1 inventory concerns [11] - US E&Ps are beginning to expand internationally, with acquisitions in Argentina and joint ventures in Turkiye, indicating a shift towards medium-term growth options [12]

Group 1 - High Yield Investor has invested significant resources, including thousands of hours and over $100,000 annually, to identify profitable investment opportunities, resulting in nearly 200 five-star reviews from members [1] - The company is celebrating its fifth anniversary by offering new members a 30-day money-back guarantee, encouraging potential investors to join [1] - High Yield Investor is preparing to release its Top Picks for 2026, presenting an opportunity for new members to benefit from the upcoming insights [1] Group 2 - The AI revolution has increased interest in data centers, prompting inquiries from investors regarding this sector [2] - Samuel Smith, a lead analyst at High Yield Investor, has a strong background in dividend stock research and holds advanced degrees in engineering and applied mathematics, enhancing the group's analytical capabilities [2] - High Yield Investor provides a range of investment services, including core, retirement, and international portfolios, along with regular trade alerts and educational content for investors [2]

Group 1 - High Yield Investor has invested significant resources, including thousands of hours and over $100,000 annually, to identify profitable investment opportunities, resulting in nearly 200 five-star reviews from satisfied members [1] - The company is celebrating its fifth anniversary by offering new members a 30-day money-back guarantee, encouraging potential investors to join [1] - High Yield Investor is set to release its Top Picks for 2026, presenting an opportunity for new members to benefit from the upcoming recommendations [1] Group 2 - The AI revolution has increased interest in data centers, prompting inquiries from investors regarding this sector [2] - Samuel Smith, a lead analyst at High Yield Investor, has a strong background in dividend stock research and engineering, contributing to the group's investment strategies [2] - High Yield Investor provides a range of services, including core, retirement, and international portfolios, along with regular trade alerts and educational content for investors [2]

Data centers have become extremely controversial, with more and more communities pushing back, partly because they consume a tremendous amount of electricity from the grid.On this episode of the Odd Lots podcast, Travis Wofford, a partner at the law firm Baker Botts, joins @tracyalloway and @thestalwart to discuss all the intricacies of getting a data center up and running https://t.co/qoGXjc1GMM ...

CREDIT FIRM. VICTOR, WHAT YEAR IT HAS BEEN FOR CREDIT. THIS IS AN INDUSTRY THAT HAS BEEN IN FEARS DEFENSE OF ITSELF, BLUE OWL VOCALLY SAYING YOU ARE WRONG, JAMIE DIMON.THINGS ARE NOT WRONG. YOU MAY BE SIDE A LITTLE MORE WITH JAMIE DIMON IN THIS ARGUMENT. VICTOR: WE ARE LIVING IN A WORLD WHERE IT IS TRULY A K-SHAPED WORLD.TECH, DATA CENTERS, FINANCING THEM, BUILDING THEM, GOING OUT WITH THESE VALUATIONS, THAT IS A VERY HOT MARKET. THERE IS A WHOLE OTHER PIECE OF THE INDUSTRY, THE BOTTOM PART OF THE K. WHEN W ...

Core Viewpoint - Oracle's shares dropped nearly 12% in after-hours trading following weaker-than-expected revenue for Q2, attributed to increased spending on AI infrastructure and a lack of clarity on financing plans [1][6]. Financial Performance - Oracle's order backlog surged 438% to $523 billion, driven by new commitments from companies like Meta and Nvidia [2]. - Despite the drop in share price, Oracle's stock is still up 34% year-to-date, although it has experienced significant volatility, with a low of $122 and a recent high of around $328 [10]. Investment Concerns - Investors expressed concerns over Oracle's unclear strategy for financing its capital expenditures, particularly regarding its AI buildout [5][6]. - The company is expected to raise less than $100 billion for its spending plans, a figure that analysts have been monitoring closely [7]. - The broader tech sector is facing pressure as investors grow wary of companies increasing capital expenditures through debt [8]. Market Reactions - Following Oracle's results, shares of Nvidia, AMD, and Coreweave also declined, indicating a ripple effect across the tech industry [2]. - The world's largest sovereign wealth fund has stated it is cautious about investing in data centers due to volatility in the sector [2][3].

Data Center Industry Concerns - Data centers are facing increasing opposition from communities due to their substantial electricity consumption from the grid [1] Legal and Operational Aspects - The process of establishing and operating a data center involves numerous complexities [1]