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Deep Dives

Long-form analysis on AI infrastructure, competitive dynamics, and investment implications. First 300 words free, full analysis for subscribers.

April 2, 2026Pro

The Anthropic Leak and the Daemon Tax: What KAIROS Means for Inference Economics

On March 31, Anthropic accidentally shipped 512,000 lines of Claude Code's unobfuscated source to npm. Inside: a daemon called KAIROS that converts every seat into persistent inference. The cost model that underpins the GPU infrastructure buildout just changed.

AnthropicinferenceneocloudsKAIROSinfrastructure

March 31, 2026Pro

The Decode Tax: Who Survives When Custom Silicon Demands Hyperscaler Scale

Nvidia spent $20B on Groq to fix the part of inference where GPUs waste 99.8% of their silicon. The distribution surface question is settled. The open question is who captures margin in the repricing.

ASICinferenceNvidiaBroadcomTPU