u/Domingues_tech

The headline is a $0.23 dividend. The story is 12.8 million digital subscribers.

Revolut became a bank, but apparently still doesn’t know how to behave like one.

Criminals didn’t hack its core systems. They impersonated an authority—and Revolut handed them sensitive customer data.

A banking licence is paperwork. Banking-grade judgement is something else.

This is scary !

“G” now stands for “Generalish” ;-)

Excellent article about the red herring of AI

Nvidia has a new product.
Credit.

Accounts receivable:
Jan: $38B
Apr: $41B
Jul: $63B

Five customers owe ~70% of it.
And Nvidia is now giving some customers up to a year to pay for the GPUs powering their data centers.

This is where the AI boom gets interesting.
When your customer needs financing to buy your product, and you need them to keep buying your product to sustain your growth, you’re no longer just selling shovels.

You’re financing the gold rush.
Nvidia still prints cash. This isn’t a fraud story.
It’s a risk-transfer story.

The question isn’t whether AI is real.
It’s whether the economics downstream are good enough to eventually pay for the $63B sitting in Nvidia’s receivables.
Watch the cash.
Always watch the cash.

Nvidia Q2 net income: $59.7B.
Equity investment gains: $7.8B in Q2.
First six months: $23.7B.
GAAP EPS: $2.46 vs non-GAAP $2.22.
The AI picks-and-shovels company is increasingly making money owning the miners too.
Normalize the P/E.

Imagine Gemini 3.5 Pro is amazing. Not 5% better. Meaningfully better than Claude.

Google launches it.

Claude suddenly looks less special.

Anthropic’s IPO narrative takes a hit.

Except… Google owns a meaningful stake in Anthropic.

Anthropic also spends billions on Google Cloud and is becoming a massive consumer of Google TPUs.

So Google is competing with one of its largest AI customers — while also owning part of it.

Which creates a delicious strategic question:
What if delaying Gemini is worth more than launching it?

Probably conspiracy theory.
But incentives matter.
Google has engineered one hell of a hedge:
Gemini wins → Google wins.
Claude wins → Google wins.
AI compute demand explodes → Google wins.

Google owns a horse, a piece of the other horse, and the racetrack.

Conundrum

Amazing move !