An investor group including Black Rockck, Nvidia, XAI, and Microsoft has now agreed to buy Align data centers for about $40 billion. That deal marks the largest data center transaction now on record. Aligned operates and has planned capacity now of more than 5 gawatt across 50 data centers. Transaction expected to close in the first half of 2026. And this is a nice way back into our conversation with you Brad uh Gersner about what is going on here. Yeah, the opportunity set just a just a small $40 billion t ...

In the David vers Goliath battle, the Chinese absolutely have pound-for-pound more industrial capacity today. Well, what are our asymmetric advantages. We definitely have the best software as a nation in the world.We also have AI. And AI is not about AI. It's not about AGI. It's not about transhumanism.AI is about applying it towards all the other weaknesses that we have. How do you make the American worker 50 times more productive. The normative value here is to give the American worker superpowers so that ...

Geopolitical Tensions - The ongoing conflict between the US and China is viewed as a long-standing issue, rooted in historical philosophies that emphasize the need for a single hegemonic power [1][2] - The relationship is characterized by a stark contrast in perspectives, with the US having a positive view of its contributions to alleviating poverty in China, while simultaneously recognizing China's role in undermining American prosperity [2] Industrial and Economic Implications - China has heavily subsidized its industries, amounting to approximately 5% of its GDP annually, which raises concerns about fair competition in the global market [5] - The US is encouraged to leverage its asymmetric advantages, particularly in software and technology, to enhance productivity and re-industrialize its economy [7][8] Workforce and Productivity - There is a focus on empowering American workers through advanced technologies, aiming to significantly increase their productivity and capabilities [9][11] - The example of Panasonic Energy's battery factory illustrates the potential for high-tech industries to drive employment and economic growth in the US [10] Defense and Adaptability - The importance of adaptability in defense technology is emphasized, suggesting that the ability to quickly adjust to new challenges is crucial for success [17] - The geopolitical landscape is shifting, with implications for defense strategies and the role of companies like Palantir in supporting Western strengths amid rising tensions [19][21] Market Dynamics - Palantir's commercial business is reportedly growing at twice the rate of its government business, indicating a robust demand for its services in the private sector [22] - The company is positioned to thrive in an environment of conflict, as geopolitical tensions may drive demand for its analytical capabilities [21][23]

He had said that he intended to meet with in two weeks time now doesn't see a reason to do so. He threatened to massively increase tariffs on Chinese goods and says that China is becoming increasingly hostile. When you and I met in January, you opened our entire conversation with a forecast on where you felt the relationship between US and China was going.Y were you right. >> Yeah, I think so. Oh, I mean the the the reality is that our interests are relatively divergent at this point and that's particularly ...

Hello and welcome to CNBC. com. I'm Frank Holland, anchor of Worldwide Exchange.I'm joined by Jim Mturn, CEO of CR, a global leader in materials and water infrastructure ahead of the company's investor day. Jim, thanks for taking a minute to talk to us. >> Good to be here, Frank.>> All right, why don't we just start off with your general outlook on the business. You're going to release financial targets tomorrow, but just your outlook on the business. How bullish are you on this business.I I don't imagine y ...

Core Viewpoint - The company is optimistic about its business outlook, particularly in the infrastructure sector, driven by ongoing funding and the need for re-industrialization in the U.S. economy [2][5][36] Infrastructure Outlook - The company identifies itself as the number one player in U.S. infrastructure, focusing on roads, water, and re-industrialization, with a positive outlook due to significant funding opportunities [2][5] - Currently, only about 40% of the capital from the bipartisan infrastructure bill has been deployed, indicating a long runway for future investments [3][4] - The company emphasizes the need for infrastructure to support reshoring and re-industrialization efforts, addressing decades of underinvestment [5][10] Revenue Streams - The U.S. road materials market is valued at approximately $45 billion, with 90% of the company's revenue coming from public sector customers, providing a stable revenue stream [6][7] - The water infrastructure market presents a $100 billion opportunity, with a focus on stormwater and water storage, which is expected to grow alongside the roads business [8][9] Economic Factors - The company anticipates that tax and spending policies, including bonus depreciation, will stimulate capital expenditure spending, benefiting its business [11][12] - Early signs of increased capital spending are being observed, particularly in the re-industrialization sector, as companies gain certainty around economic policies [13][14] Project Involvement - The company is involved in significant projects related to AI buildout, including large chip manufacturing plants and data centers, indicating a strong position in emerging technology sectors [21][22][23] - The company differentiates itself by providing a holistic product offering, including essential infrastructure components for major projects [23][35] Future Opportunities - The company sees potential in nuclear energy projects, leveraging its expertise from international operations, which could enhance its product demand [29][30] - The company plans to highlight the quality and reliability of its roads and water infrastructure businesses during its upcoming investor day, emphasizing their low capital intensity and strong cash profiles [37][38]

Core Insights - Amaero Ltd reported a significant increase in revenues, with revenues from ordinary activities up 470% and revenues from contracts with customers from continuing operations up 722%, reaching A$3.8 million for the financial year ending June 30, 2025 [1] Company Overview - Amaero Ltd is a leading U.S. domestic producer of high-value refractory and titanium alloy powders for additive and advanced manufacturing, primarily serving the defense, space, and aviation industries [31] - The company aims to address gaps in the U.S. manufacturing ecosystem by providing large near-net-shape components as alternatives to traditional castings and forgings [3] Operational Milestones - In FY2025, Amaero expanded its manufacturing capabilities by commissioning its second Electrode Induction Melting Inert Gas Atomizer (EIGA Premium) in June 2025, enhancing its production capacity for C103 and titanium alloy powders [4] - A significant A$28 million infrastructure improvement project was completed at the Tennessee facility, achieving AS9100D accreditation for both metal powder production and Powder Metallurgy Hot Isostatic Pressing (PM-HIP) [7] Commercialization Progress - FY2025 marked the transition into initial commercial operations, with a record revenue of A$1.5 million in the June 2025 quarter, driven by strong powder sales and increasing PM-HIP orders [9] - A five-year exclusive supply agreement was executed with Velo3D, estimated to generate A$35 million in revenue, with initial orders to be shipped in Q1 FY2026 [10][11] Financial Stewardship - The capital position improved significantly during FY2025, with a completed A$22 million institutional placement and a US$22.8 million equipment financing loan from the Export-Import Bank of the United States [14][15] - Amaero ended FY2025 with A$19.2 million in cash and A$50.7 million in tangible assets, fully funded for its three-year capital plan through FY2026 [17] Leadership and Governance - The leadership team was strengthened with the promotion of Michael "Mick" Maher to Chief Strategy and Commercial Officer and the appointment of Brett Paduch as Chief Financial Officer [19][20] - Alistair Cray was appointed as Non-Executive Director, enhancing the Board's depth in strategy and governance [21] Industry Outlook - The company is positioned to benefit from increased defense spending, geopolitical risks, and onshoring initiatives, creating a favorable environment for U.S.-based production of advanced materials [22] - Amaero expects a significant revenue increase in FY2026, with contracted revenue for the first half of FY2026 already at approximately 80% of planned revenue [24]

Investment Focus & Strategy - Eclipse is at a seminal moment for physical industries, seeing significant interest and capital formation around both private and public companies in this sector [2] - The firm aims to capitalize on the re-industrialization trend supported by US policy and advancements in artificial intelligence to transform physical industries [3] - Eclipse emphasizes national security and economic sovereignty in its investment strategy, aligning with national priorities [4] - The firm will initially make smaller check sizes in early-stage ventures, scaling them over time as companies achieve escape velocity [7] - Eclipse is also prepared to make larger investments earlier for companies demonstrating strong traction [8] - The firm's sweet spots include supply chain solutions, semiconductors, defense tech, and autonomy, leveraging experience in electric vehicles, materials science, and battery technology [10] Key Lessons & Growth Drivers - A key lesson learned from companies like Tesla is the importance of a first-principles approach to building [11] - Product-market fit is crucial, solving customer problems and providing unique solutions [13] - Driving durable growth and ensuring long-term sustainability are essential for companies to become successful public entities [14] Team & Expertise - The Eclipse team has a decade-long vision and a competent team of builders [5] - The combination of the team's technical experience and the new partner's financial experience creates a synergistic effect [6]

Market Trends & Investment Opportunities - The report suggests that breaking through \$120,000 in Bitcoin and \$4,000 in Ethereum could lead to rapid market movement [1][7] - The administration is considering eliminating capital gains tax on housing to stimulate the housing market by unlocking transactions and enabling people to sell homes [1] - Re-industrialization is occurring, driven by AI embodiment, requiring hardware, data centers, and power, shifting focus from software to energy, materials, and mining [2] - The US grid system is under strain due to the energy demands of AI data centers, leading to skyrocketing megawatt per day pricing and a shortage of data center space [2] - The report highlights a potential shift in market leadership from the MAG7 to a broader range of companies in the energy, materials, and mining sectors due to re-industrialization and AI [2][17] - Bitcoin is catching up to gold in performance, and the report suggests that Bitcoin relative to the S&P 500 and especially the MAG7 is the most important chart for the rest of the year [7] Economic Factors & Policy - The Fed's independence is questioned due to fiscal dominance, with a massive debt situation and a deficit of 6% to 7% requiring lower interest rates to manage interest expense [4] - The report suggests that the Fed may need to focus on the debt and deficit problem, potentially changing its views on monetary policy [5] - The report mentions that the market isn't expecting a rate cut at the next meeting, so a cut would be a massive surprise [5] Labor Market & Automation - There is a massive shortage of labor in energy, physical world, manufacturing, and blue-collar companies, suggesting robotics may fill the gap rather than displace workers [3] - The report indicates a need for 500,000 workers solely for the power side of the electricity grid [2] Retail Investor Influence - The report emphasizes the growing influence of retail investors, with meme-driven investments and a shift in market dynamics [7][8][9]

Core Insights - Comfort Systems USA (FIX) and Carrier Global (CARR) operate in the HVAC sector but serve different market niches, with FIX focusing on commercial HVAC contracting and CARR providing a wide range of HVAC and refrigeration equipment globally [1][2] Comfort Systems Overview - Comfort Systems employs a business model of organic growth complemented by strategic acquisitions, leading to a steady revenue stream and cost synergies [3] - The company has a record-high backlog of $6.9 billion as of Q1 2025, with strong demand in technology sectors, particularly data centers and chip fabrication, which constitute 62% of total volume [4] - The company benefits from shorter-duration contracts and faster cash turnover, providing resilience against tariff and inflation pressures [3][4] - Institutional markets, including healthcare, education, and government, remain robust, with healthcare contributing 10% of revenue [4][5] - Despite macro uncertainties, the company maintains a conservative guidance approach, projecting high-single-digit organic growth for the year [5] Carrier Overview - Carrier anticipates mid-single-digit sales growth in 2025, with nearly 20% EPS growth driven by pricing and productivity initiatives [8][11] - The company is capitalizing on strong demand in commercial HVAC, particularly in data centers, with sales expected to double from $500 million in 2024 to $1 billion in 2025 [10] - Carrier's global scale and digital penetration enhance its aftermarket business, which is a high-margin driver [9][11] - The company faces challenges such as tariff-related cost inflation, which poses a $300 million risk, and macroeconomic uncertainties affecting residential and light commercial HVAC spending [12] Stock Performance Comparison - Comfort Systems shares have surged 57.1% in the past three months, outperforming Carrier's 25.9% gain [13] - FIX trades at a premium valuation of around 27× forward 12-month earnings, supported by a 36.4% return on equity (ROE), while CARR trades at approximately 23.2× forward earnings with an 18.1% ROE [17] - Comfort Systems' earnings estimates for 2025 and 2026 have trended upward to $19.28 and $20.41 per share, indicating year-over-year growth of 32.1% and 5.8% respectively [19] - Carrier's earnings estimates for the same periods have also increased to $3.03 and $3.43 per share, reflecting year-over-year growth of 18.4% and 13.1% respectively [21] Investment Outlook - Comfort Systems is viewed as having stronger upside potential due to faster growth and a robust project pipeline, currently holding a Zacks Rank 1 (Strong Buy) [23] - Carrier, while a solid blue-chip with a good dividend yield of 1.2%, is rated Zacks Rank 3 (Hold) and has a more moderate growth outlook [23][15]