Follow the question
Two ongoing investigations connect our articles to primary documents, reproducible data, and tools you can use yourself.
AI Infrastructure & Financing
Who pays for the build-out, how the bill reaches earnings, and what the disclosures can actually tell us.
- Who supplies the capital as well as the equipment?
- When does construction become an expense?
- Which spending figures can we compare?
Treasury & the Cost of Debt
Follow the debt from issuance and market pricing to refinancing, interest expense, and buybacks.
- How quickly does the outstanding stock refinance?
- Which part of a yield move is observed and which is estimated?
- What do buybacks accomplish—and what do they leave unchanged?
How these dossiers work
Start with a question, follow the recommended reading order, then examine the evidence. Source readings separate what a document says from our interpretation. Updates record meaningful changes; the thesis register states what would change our view.
Data retrieval and editorial review are separate events. Each tracker dates its commentary and its observations so you can judge both.