The daily desk for AI compute and datacentre economics
Prices, deals, power and capital across the AI-infrastructure stack.
For everyone who invests in, finances, buys, builds or powers it. A pre-market brief at 08:00 ET, a Weekly Sector Review, eleven proprietary instruments, a deals and news record and a global AI datacentre monitor — built on stored daily GPU price history, reconciled company filings, a ledger of every compute financing and a register of every gigawatt-scale campus worldwide.
Every subscriber, including the free Compute Open tier, gets the 70-page AI Infrastructure Primer 2026. Same calls to every tier at the same time. Not investment advice.
Pre-Market Brief
Preview · session 14 Oct 2026Compute price board · $/GPU-hour
$5.33
Compute Terminal Public Rate Card CompositeAs of 14 Oct 2026Source$8.55
Compute Terminal Public Rate Card CompositeAs of 14 Oct 2026Source$12.25
Compute Terminal Public Rate Card CompositeAs of 14 Oct 2026SourceGlobal AI datacentre digest · latest headlines
- Supply3C merges with Datalec to form a liquid-cooling and services platform with more than $400m revenue · 14 Oct single source
- EPCABC: contractors with data-center work report 11.3 months of backlog · 14 Oct single source
- ChipsASML: proposed MATCH Act ban on DUV immersion tools to China would backfire · 14 Oct
Latest readings, session 14 Oct 2026. Prices: Compute Terminal Public Rate Card Composite of advertised on-demand rates. Full brief: seven fixed blocks, every figure linked to its source. Not investment advice.
Free · every trading day · 08:00 ET
Today's free post
The daily compute read, on X and by email. Free with Compute Open.
The first 08:00 ET post publishes on the next trading day.
Until then, the sample brief shows the format and the figures it carries.
Two tracks. One desk.
Compute prices and the physical buildout move the same stocks. We read them together, every morning, in one place.
Track 1 · AI compute
GPU and token prices, neocloud and hyperscaler economics
- Daily H100, H200, B200, B300 rental indices and the spread between the two reference benchmarks
- Neocloud backlog, contracted versus active gigawatts, cost of debt and customer concentration
- GPU economic life, residual value and what it does to reported earnings
- Hyperscaler capex, lease commitments and the circularity of AI financing
Track 2 · Global AI datacentres
Campuses, power, leasing, equipment, financing and regulation
- A curated register of every announced campus of 500 MW or more, evidence-graded
- Regional power readiness from Northern Virginia and Texas to the Gulf, India, Johor and Japan
- Power and PPA deals, transformer and turbine lead times, campus-level debt
- Operators and REITs scored on leased versus powered capacity and cost per MW
The rhythm
Every trading day · 08:00 ET
Pre-Market Brief
Compute price board, the coverage universe by basket with the options pulse, news and sentiment by name, the global datacentre digest and the day's catalysts.
Fridays · 17:30 ET
Weekly Sector Review
A one-paragraph conclusion and direction scorecard, then basket returns, the three-layer price table, take-or-pay arithmetic, the capital-markets coupon table, M&A, supply chain, power and policy, valuations and the week's catalysts.
First Tuesday · monthly
Monthly package
Deep dive, GPU Economic Life Tracker, Capex & Circularity Map, contract ledger and the Global AI Datacentre Monitor.
Annual · Plus & Pro
The AI-Factory Economy 2027
The flagship annual: a Top-20 benchmark of AI-factory operators on the eight factors that decide who wins.
Quarterly · Pro
Teardowns & data room
Neocloud, Global Datacentre, Power & Grid and Credit teardowns, plus daily JSON and weekly CSV data packs and a read API.
Eleven instruments
Headline readings are public. Full tables, history and inputs go to subscribers. Every method is published.
01 · DAILY
Neocloud & AI-Infra Scorecard
Operators ranked on the eight factors that decide winners: power, contracts, balance sheet, execution, silicon access, diversification, geography and cost of capital.
top-ranked score (0–100)Reading from the first daily run02 · WEEKLY
AI-Infra Credit Stress Index
A funding-cost ladder by who stands behind the cash flows, the debt-maturity wall and contract cover of debt.
index levelReading from the first weekly run03 · DAILY
Compute Price & Basis Heatmap
Three price layers — lease $/kW-month, contract $m/MW-year, on-demand $/GPU-hour — by SKU and term, with the inter-index basis.
H100 on-demand composite, $/GPU-hour$5.33
Compute Terminal Public Rate Card CompositeAs of 14 Oct 2026Source04 · WEEKLY
Catalyst Probability Matrix
Earnings, futures milestones, sovereign deadlines and moratorium bills.
events in the next 30 days3
Compute Terminal Catalyst CalendarAs of 14 Oct 2026Source05 · DAILY
Options Positioning
Open interest, put/call and implied volatility on eight bellwethers.
put/call volume, eight bellwethersReading from the first daily run06 · MONTHLY
GPU Economic Life Tracker
Implied life and residual value from stored rental history, against stated useful lives.
implied H100 economic life (years)Reading from the first monthly run07 · MONTHLY
Capex & Circularity Map
Who owes whom across hyperscalers, labs, neoclouds and NVIDIA.
big-4 capex guidance, $bnReading from the first monthly run08 · WEEKLY
Global AI Datacentre Pipeline Tracker
Gigawatts by region and status, probability-weighted, with delivery records.
probability-weighted GW in the pipelineReading from the first weekly run09 · MONTHLY
Regional Power Readiness Index
Thirteen markets scored on queues, firm power, equipment, permitting and policy.
top-ranked market score (0–100)Reading from the first monthly run10 · WEEKLY
Compute Markets Monitor
Forward curves, realised volatility and venue milestones across CME, ICE, Kalshi, Architect and Polymarket, CFTC rulemaking, and open interest once futures trade.
venues trading compute futures0
Compute Terminal venue-status tableAs of 14 Oct 2026Source11 · MONTHLY
Build Cost & Lead-Time Index
Cost per MW by market, the liquid-cooling premium, equipment lead times, construction labour and contract awards.
all-in cost per MW, $mReading from the first monthly run
Why it is different
History nobody gives away
Free index tiers show only recent weeks. We store every daily print and build on it.
Equities first
Every compute print and datacentre headline is read through the listed names it moves.
Every number has a source
Click any figure to see where it came from and when. Nothing is typed in by hand.
A published conflicts policy
Holdings and capital-raising mandates disclosed by name, no ratings on mandate clients, same calls to every tier at once. Read the policy
Built for every market participant
- Equity investors and funds
- Lenders, private credit and infrastructure funds
- AI compute buyers
- Neoclouds and AI-factory operators
- Datacentre developers, operators and REITs
- EPC contractors and builders
- Chip, server, power and cooling suppliers
- Utilities, IPPs and energy developers
- Policymakers and sovereign programmes
- M&A, site and procurement advisers
Dashboards, deals and news
Every M&A deal, stake, campus purchase, IPO and financing across the stack, and the news by topic and company. Headlines are open to all; free subscribers get the terms and key numbers.
Five free dashboards
$165.1B
SEC EDGAR 10-Q/10-K (XBRL): sum of Microsoft, Alphabet, Amazon and Meta Platforms cash capex, calendar Q2 2026 (calc.)As of 14 Oct 2026Source+87.0% y/y
SEC EDGAR 10-Q/10-K (XBRL): sum of Microsoft, Alphabet, Amazon and Meta Platforms cash capex, calendar Q2 2026 (calc.) against Q2 2025As of 14 Oct 2026SourceCapex Supercycle Tracker, Compute Price Index, NVIDIA Pulse, Gigawatt Race and the Neocloud Scoreboard — sourced, dated and free to everyone.
Cash capex as each company reports it (Microsoft, Alphabet, Amazon and Meta Platforms); definitions differ and are stated on the tracker. Calendar quarters (Microsoft: fiscal Q4 FY26); some single quarters derived from year-to-date filings. Source: SEC EDGAR XBRL company facts. Not investment advice.
Capital Markets · 14 Sep – 14 Oct
$15.1B
Compute Terminal deals registerAs of 14 Oct 2026Source- 3C (backed by Longbow, S2G, Apogem, QIC) — Datalec Precision Installations (UK) · Announced/completed (not specified) · Confirmed
- Aether Infrastructures (French consortium: SiPearl, 2CRSi, Nhood, Dassault Systèmes) — Dumarey Powerglide former gearbox plant, Strasbourg (90 ha) · Preliminary agreement · Reported single source
- Flex (FLEX) — EPC Power · Closed 14 Oct · Confirmed
14 Sep 2026 to 14 Oct 2026. USD values only where the value is in USD or the source reported a USD conversion; each deal counted once; talks, raise targets and market capitalisations excluded. Terms are free with Compute Open. Source: Compute Terminal deals register.
News · 12 topics · every covered name
- Policy BlackRock's Fink: "If we have a moratorium… we will be in a recession" · 14 Oct single source
- Financing CoreWeave falls 13–15% as its 2032 unsecured bond yield hits a record 14.5% · 14 Oct
- Capex Dell'Oro: data-center physical infrastructure (DCPI) market +27% y/y to $14bn in 2Q26 · 14 Oct
Headlines are open to all; key numbers and sources are free with Compute Open.
See also the Global AI Datacentre Monitor, the research library and the conflicts and disclosure policy.
Capital Raising
Capital, offtake, power and delivery — from one team.
For builders, operators and start-ups: equity and debt, bankable offtakers, reputable NVIDIA partners, access to power and leading AI datacentre EPC specialists — with a specialism in complex transactions. Results, not words.
Free with every plan
The AI Infrastructure Primer 2026
Sixteen chapters on how the industry works — from GPU-hour and token economics to grid-to-chip power, cooling, networking, financing and the global datacentre map. 70 pages, 26 figures, 13 tables, data as of 14 October 2026. Reissued every April and October.
Three plans
Annual plans save 20%. 7-day trial on monthly Standard and Plus; 14-day money-back on annual.
Standard
$49/month
or $470/year
For anyone who needs the daily read on the market.
- Pre-Market Brief every trading day at 08:00 ET
- Daily Global AI Datacentre digest, 10–15 items with figures
- Weekly Sector Review: conclusion and direction scorecard
Plus
$99/month
or $950/year
For investors, operators, buyers and builders who need every instrument.
- Everything in Standard
- All eleven instruments in full, with history — incl. the Compute Markets Monitor and Build Cost & Lead-Time Index
- Full Weekly Sector Review: basket returns, three-layer price table, take-or-pay arithmetic, coupon table, valuations
Pro
$199/month
or $1,910/year · 3 seats included
For teams: funds, lenders, operators, contractors and advisers.
- Everything in Plus, for 3 seats
- Same-morning Flash Notes on qualifying events
- Quarterly teardowns: Neocloud, Global Datacentre, Power & Grid, Credit
Not ready? Compute Open is free: the daily 08:00 ET compute read by email and on X, plus the Primer. Get Compute Open and the Primer