Memory and electricity remain primary; commercial proof decides the bench
Investigation
Memory and electricity remain primary; commercial proof decides the bench
Reviewed September 6 on September 4 settled prices, for the September 8 decision window. September 7 is the U.S. Labor Day holiday.
Memory remains primary. Producer-reported pricing, shipments and customer agreements support the demand-and-supply mechanism. Keep DRAM/HBM, NAND and nearline storage distinct. Customer inventory, supply additions and order durability remain the monitoring priorities.
Electricity remains primary as one thesis spanning generation, delivery and nuclear demand. Booked equipment orders and reported future nuclear agreements support the constraint. Grid equipment, merchant power, fuel supply and financed compute projects require different underwriting; they are not interchangeable expressions.
Physical-AI bill of materials moves to the priority bench. Commercial machine vision is supported, but scarce robot-component content and supplier economics are not established by the supplied evidence. Re-admit only when component orders, defensible content and revenue conversion are verified.
The other primary slots remain open. The neocloud focus lane receives first research attention, but delivered capacity alone does not settle financing or shareholder economics. Optical and nearline hypotheses need current supplier verification. These AI-linked themes share exposure to the same spending stream.
Verdict convention and source boundary
INTACT retains a bounded working hypothesis; it does not certify unresolved claims. WOUNDED identifies a weakened branch or campaign expression. BROKEN requires affirmative falsification. No broad business thesis earns BROKEN from these inputs. Missing evidence remains an explicit commission, not invented causation.
The final analyst read only individually reviewed model capsules, market inputs and primary issuer receipts. Earlier contaminated contexts were stopped; their Phase 2 judgments were discarded. The Phase 0 and Climate results preceded the later exposure. No account positions were supplied to the final analyst. The audit trail is in the campaign run record.
Neoclouds first: separate the economic models
Contracted capacity, energized capacity, recognized revenue and shareholder cash are different measures. The issuer releases retain their original dates; reading them this weekend does not make the observations newly reported.
| Name | Verified business/financing evidence | Unresolved distinction | Issuer receipt |
|---|---|---|---|
| NBIS | Nebius operates an AI cloud spanning model training and production services. Its shareholder letter attributes revenue growth to capacity scaling, pricing and utilization. Funding sources include customer prepayments, operating cash, secured financing backed by GPU infrastructure and contracted customer cash flows, and equity issuance. The group also has other businesses and investments. | Contract yields and payback in the letter are estimates tied to selected future-capacity deals, not realized cohort profitability. GPU depreciation policy changed. Financing review stops at this release; an August convertible-financing lead was not independently opened, so latest dilution terms remain a gap. | NBIS-Q2-2026, 2026-08-12 |
| CRWV | CoreWeave runs a purpose-built AI cloud with software, compute and infrastructure services. It reported revenue growth alongside GAAP operating and net losses. Financing updates include an infrastructure-backed term loan, a strategic investment, unsecured debt and convertible bonds. Its defined backlog combines remaining performance obligations and estimated future amounts under committed contracts. | Backlog requires delivery and service availability and is not cash or recognized revenue. Active and contracted power are different. Adjusted profitability excludes costs; capital access does not eliminate interest, execution or dilution risk. | CRWV-Q2-2026, 2026-08-11 |
| IREN | IREN describes an integrated AI-cloud platform with datacenters, compute and software, while transitioning from bitcoin mining. It reported recognized AI-cloud revenue growth, a new frontier-lab contract, Microsoft delivery at Horizon 1, and later Horizon stages in commissioning or construction. Customer prepayments and GPU financings support deployments. Mining equipment impairments affected GAAP losses. | Actual release date is August 27, not September 6. Annualized operating and contracted run rates are operating metrics, not recognized GAAP revenue. Later deliveries remain conditional; selected GPU-capex financing coverage is not all-in project funding. | IREN-FY2026, 2026-08-27 |
| APLD | Applied Digital designs, builds and leases HPC datacenters. Its legacy cloud-services business was separated into ChronoScale, which remains consolidated but excluded from specified non-GAAP measures. HPC revenue includes base rent, tenant fit-out and recoveries. Long-term take-or-pay leases and secured project notes support construction; Polaris Forge has delivered capacity alongside uncompleted campuses. | Contracted base-term revenue spans future lease years; fit-out revenue is not recurring rent. Some lease assignments and later openings remain conditional. Consolidated GAAP and adjusted continuing-business bases differ. | APLD-FY2026, 2026-07-27 |
| CORZ | Core Scientific provides high-density colocation. It reported growing billed capacity and colocation revenue, an AMD partnership with anchored leases and additional potential capacity, and substantial construction spending. The stated GAAP net loss was primarily affected by warrant fair-value changes. Reported liquidity includes digital assets. | Potential capacity and base-term contract amounts are not recognized revenue. Do not infer operating collapse from the warrant loss or treat all liquidity as cash. Detailed funding terms and delivery obligations remain unreviewed. | CORZ-Q2-2026, 2026-07-28 |
| WULF | TeraWulf develops and operates digital infrastructure earning HPC lease revenue. It reported delivered Lake Mariner capacity and later construction phases, and completion of conditions activating Google credit support for Fluidstack lease obligations after a July delivery. It also reported a future Anthropic campus lease and an agreement to monetize a joint venture. | Online, commissioning and construction stages must remain separate. Restricted cash is not unrestricted liquidity. Credit support applies to specified obligations, not the whole business; a signed asset sale is not closed proceeds. Full debt and cash-flow review remains a gap. | WULF-Q2-2026, 2026-08-05 |
| HUT | Hut 8 describes a power-led execution model for AI datacenter campuses and reports contracted IT capacity and secured project financing. Its corporate site distinguishes power, digital infrastructure and compute, with Highrise AI and American Bitcoin brands. | The release's operating and financial tables are images unavailable in extracted text. Expected lease value and expected annual NOI are future/project measures, not current consolidated earnings. Detailed segment, bitcoin exposure, debt and cash reconciliation remains needs-evidence. | HUT-Q2-2026, 2026-08-04 |
| CIFR | Cipher Digital is a datacenter developer, owner and operator. It reported initial Black Pearl capacity delivered and rent commencing in early August following a tenant-requested accelerated schedule. A completed bond offering funded Stingray development through substantial completion. Other halls and campuses remained under construction; Apollo was a site option. | An option and an interconnection study are not energized capacity. Initial rent does not establish all-campus completion. Funding statement applies to Stingray's defined construction scope. Q2 adjusted EBITDA remained negative. | CIFR-Q2-2026, 2026-08-04 |
| GLXY | Galaxy combines digital-asset financial services with datacenter development. Helios Phase I delivery to CoreWeave was complete, and rent commenced in stages through the quarter. July secured notes fund the next Helios construction phase. Management attributed the quarterly net loss primarily to digital-asset price depreciation. | Critical IT load and gross power are distinct. New sites and subsequent phases are future development, not current rent. Datacenter economics do not represent consolidated results; cash-and-stablecoin liquidity has mixed composition. | GLXY-Q2-2026, 2026-08-05 |
| CBRS | Cerebras sells wafer-scale AI hardware and cloud inference services. It reported GAAP cloud-services revenue growth and expansion agreements. Its architecture avoids HBM and CoWoS, per the issuer. IPO proceeds and a revolving facility support expansion. The release distinguishes live capacity from contracted future delivery. | Core results are non-GAAP and exclude customer-warrant amortization, stock compensation, datacenter pass-through and other items. Remaining performance obligations are future delivery, and GAAP operating losses persist. Custom hardware/inference economics differ from GPU cloud rentals and datacenter leases. | CBRS-Q2-2026, 2026-08-12 |
| Name | 1Y % | 2Y % | Annual alpha pp | Versus 200-day % | Supplied thesis state |
|---|---|---|---|---|---|
| NBIS | +248.78 | — | +230.12 | +46.30 | intact-but-priced |
| CRWV | +2.15 | — | -16.50 | -2.30 | unrated |
| IREN | +70.99 | +564.88 | +52.34 | -2.10 | unrated |
| APLD | +84.02 | +713.89 | +65.37 | -18.10 | unrated |
| CORZ | +31.35 | +81.26 | +12.70 | -9.20 | unrated |
| WULF | +86.13 | +322.25 | +67.48 | -7.60 | unrated |
| HUT | +265.29 | +917.95 | +246.64 | +24.50 | unrated |
| CIFR | +139.73 | +495.30 | +121.08 | -3.50 | unrated |
| GLXY | +14.93 | +148.40 | -3.72 | +5.00 | unrated |
| CBRS | — | — | — | — | intact-but-priced |
NBIS and HUT retain strong long trends despite drawdowns. IREN, APLD, CORZ, WULF and CIFR retain longer-term gains while their long averages remain unreclaimed. CRWV has little annual progress and an unreclaimed long average. GLXY is above its long average with negative annual relative performance. CBRS lacks the requested long history. These are price observations, not contract-quality judgments.
The cohort remains priority bench. Actual delivery defeats a blanket dismissal of these businesses as unproven; incomplete underwriting prevents blanket primary admission. IREN's release is dated August 27, correcting the raw news lead's inferred September date.
All six pillars
| Pillar | Verdict | Supported conclusion | Receipt selector | Required narrowing or gap |
|---|---|---|---|---|
| AI Compute Shortage Supercycle | WOUNDED | Memory and electricity constraints retain evidence; the universal shared-bottleneck and common-clock formulation fails. | CBRS-Q2-2026 | Commercial inference using an architecture that avoids HBM and CoWoS defeats the universal claim. Test each layer separately. |
| AI Application Disruption | INTACT, bounded | Commercial AI applications exist; adoption and economic capture require individual tests. | CGNX-Q2-2026 | Machine vision supports one application. Broad SaaS-disruption and drug-discovery claims remain needs-evidence. |
| Energy & Geopolitical Supply | INTACT, conditional | Physical shipping risk remains a scenario to monitor. | marad-2026-004 | A standing advisory does not establish a new attack, closure, lost LNG output or helium depletion. |
| Capital Cycle & Liquidity | WOUNDED | Funding structure remains central; deterministic IPO-drain attribution is unestablished. | NBIS-Q2-2026 | Prepayments, operating cash, debt and equity are distinct. Original issuance-flow claims need event-window evidence. |
| Idiosyncratic / Event-Driven | INTACT, conditional sleeve | Individual observable tests remain useful; this is not a unified directional thesis. | U:GLD; C:gold-crash | Gold meets its weakness condition. Disease and war-resolution require separate catalysts and attribution. |
| Quantum Compute | WOUNDED, campaign expression | Development optionality survives; commercial advantage and investable economics remain unverified. | U:QUBT | Weak market expression is not proof that the technology failed. Funding terms, demand and cash economics remain needs-evidence. |
All twenty-two perspectives
| Perspective | Verdict | Current review | Receipt selector | Evidence disposition |
|---|---|---|---|---|
| ai-power-bottleneck | INTACT | Equipment orders and nuclear customer commitments support the electricity constraint; financed compute hosts require separate delivery and funding analysis. | GEV-Q2-2026 | Reconcile remaining project expenditure, customer obligations, financing and cancellation exposure; keep equipment orders separate. |
| ai-power-delivery | INTACT, bounded | Grid equipment demand supports the delivery layer, while rack, board and die beneficiaries still need their own design-win and margin evidence. | GEV-Q2-2026 | GEV grid evidence cannot answer socket economics at the rack, board or die. |
| gulf-infrastructure-strike | INTACT, conditional | The shipping advisory keeps the disruption scenario relevant, but the Qatar supply premise and helium transmission remain unverified. | marad-2026-004 | Current official outage/restart evidence and transmission into helium allocation, pricing or fabrication. |
| war-ends-playbook | INTACT, narrowed | The narrowed technology-leadership lens remains usable; a broad war-resolution rotation still requires a direct catalyst and a response that survives confound checks. | U:QQQ | Separate resolution-driven returns from earnings and sector confounds. |
| gold-crash | INTACT, narrow anomaly | Gold remains inside the registered weakness condition, while recovery and dollar-decoupling conditions are inactive; safe-haven attribution remains unresolved. | U:GLD | Dated risk and dollar windows with bullion and miners separated. |
| optical-supercycle | INTACT, provisional | The optical constraint remains a working hypothesis, but current supplier allocation and margin evidence is required before promotion. | U:LITE | COHR/LITE allocation, lead times, capacity and margins; verify CIEN/CRDO developments separately. |
| us-energy-dominance | INTACT, conditional | Energy price strength keeps the supply scenario relevant, but physical disruption and company-level transmission require separate verification. | U:USO | Verify oil, gas, LNG, producer, service and refiner transmission rather than infer blockade from prices. |
| memory-supercycle | INTACT | Producer pricing, shipments and customer agreements sustain the memory thesis; inventory, capacity additions and order durability remain the decisive falsifiers. | SKH-Q2-2026 | Verify capacity acceleration, negative pricing, inventory build and major HBM order reductions separately. |
| spacex-ipo-liquidity-event | WOUNDED, ungraded causal case | The completed issuance case remains ungraded until its original terms and event-window outcomes are recovered; another issuer cannot substitute for that evidence. | C:spacex-ipo-liquidity-event | Recover original filed float, lockup and index terms and contemporaneous funding, peer and sector outcomes. |
| nearline-storage | INTACT, provisional | Nearline storage retains a distinct density-and-supply-discipline hypothesis, with current allocation, margin and competitor-capacity evidence still required. | U:STX | STX/WDC allocation, lead times, pricing and margins, including Toshiba capacity response. |
| livestock-disease | INTACT, conditional | The disease scenario remains conditional on official detection and commercial transmission; animal-health demand and protein substitution must be tested separately. | C:livestock-disease | Current USDA/APHIS detection plus measurable animal-health demand and protein substitution. |
| biotech-capital-cycle | INTACT, untriggered | The shared momentum condition remains incomplete, and funding activity must be connected to downstream orders before the capital-cycle thesis is promoted. | U:TMO,DHR,MEDP | CRO/tool orders and platform ROI independently of aftermarket enthusiasm. |
| nuclear-fuel-cycle | INTACT, bounded | Future nuclear agreements support the demand branch, while fuel and enrichment economics require their own production and contracting evidence. | CEG-Q2-2026 | Enrichment awards and production, uranium pricing and fuel commercial terms. |
| cpu-shortage-supply-chain | INTACT, provisional | CPU and substrate constraints remain a working hypothesis; allocation, pricing and utilization must establish which layer captures the economics. | C:cpu-shortage-supply-chain | Merchant CPU allocation/pricing and ABF/OSAT utilization after captive substitution and capacity additions. |
| china-structural-discount | INTACT, descriptive | Offshore underperformance remains visible, but price weakness alone cannot separate earnings deterioration from governance, regulatory or macro discounts. | U:KWEB,ASHR | Current governance, regulation and macro attribution against mainland equities. |
| ai-capex-digestion | INTACT, risk lens | Delivered AI capacity and financial strain can coexist; a spending reckoning requires verified capex reductions and corroborating supplier deterioration. | CRWV-Q2-2026 | Hyperscaler spending guide-downs, supplier cancellations and deteriorating software economics. |
| physical-ai-robotics | WOUNDED, priority bench | Physical-AI moves to the bench because commercial machine vision does not yet establish scarce robot-component content and supplier economics. | CGNX-Q2-2026 | Verified design wins, orders, defensible content and revenue conversion, including vertical integration and design-out risk. |
| quantum-computing | WOUNDED, campaign expression | Quantum remains a development option with weak campaign confirmation; financing terms and repeatable commercial demand must precede promotion. | U:IONQ,RGTI,QBTS,QUBT | Filed financing, usable runway and commercial demand; distinguish technical milestones and noncash accounting. |
| ai-mega-ipo-liquidity-regime | INTACT, conditional | The issuance lens remains conditional on actual filings and reconciled float, lockup and index dates; rumored calendars do not activate it. | C:ai-mega-ipo-liquidity-regime | Reconcile issuer float, lockup and passive-demand calendar and measured liquidity transmission. |
| trump-policy-ticker-catalyst-watch | INTACT, conditional | Policy attribution remains conditional on a direct primary statement and a response that survives earnings, analyst and sector confounds. | C:trump-policy-ticker-catalyst-watch | Direct dated primary statement and return path controlling earnings, analyst and sector effects. |
| midterm-window | INTACT, untriggered | The early-turn conjunction remains incomplete and the failure condition is inactive; the calendar supplies no standalone entry signal. | U:SPY,IWM,XLY,VIXY | Complete supplied price conjunction evaluated; untriggered. No missing-price-evidence commission. |
| drone-defense | WOUNDED, market expression | Defense procurement remains a plausible demand source, but weak market confirmation and unresolved contract economics keep the theme on the bench. | U:AVAV,KTOS,RCAT | Budget/contract conversion, margins, execution, acquisition effects and dilution; assess revenue against share growth. |
Long-horizon support and registered conditions
| Name | 1Y % | 2Y % | Annual alpha pp | Versus 200-day % | Supplied thesis state |
|---|---|---|---|---|---|
| QQQ | +24.99 | +56.09 | +6.34 | +9.30 | unrated |
| LITE | +521.00 | +1489.86 | +502.35 | +28.60 | intact |
| USO | +91.37 | +103.94 | +72.72 | +32.10 | unrated |
| STX | +361.62 | +743.13 | +342.96 | +43.10 | intact |
| KWEB | -31.34 | +2.16 | -49.99 | -14.20 | unrated |
| ASHR | +10.79 | +48.50 | -7.86 | +0.00 | unrated |
| IONQ | -6.15 | +463.77 | -24.80 | -10.60 | intact-but-priced |
| RGTI | +0.53 | +1709.52 | -18.12 | -21.20 | intact-but-priced |
| QBTS | +8.44 | +1682.80 | -10.21 | -22.90 | intact-but-priced |
| QUBT | -45.73 | +1151.56 | -64.38 | -15.80 | broken |
| AVAV | -36.21 | -25.45 | -54.86 | -31.90 | unrated |
| KTOS | -24.80 | +116.67 | -43.45 | -33.20 | unrated |
| RCAT | -1.65 | +206.59 | -20.30 | -23.80 | unrated |
The supplied thesis state is a field, not an automatic business verdict. All rows above come from the frozen market receipt. The following conditions were evaluated in code by the analyst.
| Test | September 4 observations | Result |
|---|---|---|
| Biotech shared ratification | TMO/DHR/MEDP three-month returns +29.82/+12.67/+30.17%; RSI 57.40/50.50/50.60 | All positive-return legs pass; all RSI-above-60 legs fail. |
| Midterm early turn | SPY RSI 55.60, monthly +0.05%; IWM monthly -1.25%, weekly +0.07%; XLY monthly -3.14%; VIXY weekly -3.51% | Only SPY legs pass; full condition fails. |
| Midterm failed window | SPY -1.18% from annual high | Does not reach the registered −20% condition. |
| Gold anomaly | GLD $406.77, RSI 52.40; UUP $28.08 | Below-$410 weakness active. Recovery above $445 with RSI above 55 and dollar-decoupling below UUP $27.10 are inactive. |
Bench triggers
| Perspective or branch | Named activation / re-admission trigger |
|---|---|
| ai-power-bottleneck | Named host delivery or recurring rent paired with verified project funding, customer obligations and dilution terms. |
| ai-power-delivery | Named electrical-layer supplier reports socket or design-win conversion and margins. |
| gulf-infrastructure-strike | QatarEnergy or official outage evidence followed by actual helium allocation, pricing or fabrication effects. |
| war-ends-playbook | Direct resolution evidence and a cross-asset response surviving earnings and sector confounds. |
| gold-crash | Complete the registered recovery or dollar-decoupling condition in a dated event window. |
| optical-supercycle | COHR/LITE allocation, capacity and margin evidence demonstrates conversion into supplier economics. |
| us-energy-dominance | Verified physical-energy event and differentiated cohort response; retain the registered refiner reset-and-recovery sequence. |
| memory-supercycle | Primary retained; review inventory, supply additions and order durability against the registered break test. |
| spacex-ipo-liquidity-event | Recover and grade original filing terms and event-window outcomes; retrospective, not a new calendar trade. |
| nearline-storage | STX/WDC allocation, pricing and margins with disciplined capacity and Toshiba supply behavior checked. |
| livestock-disease | USDA/APHIS out-of-zone detection and commercial animal-health or protein-substitution evidence. |
| biotech-capital-cycle | Verified funding and CRO orders plus the complete shared TMO/DHR/MEDP momentum condition. |
| nuclear-fuel-cycle | DOE award or production evidence and fuel commercial terms; LEU/CCJ volume-supported turn is a separate price test. |
| cpu-shortage-supply-chain | AMD/Intel allocation or pricing evidence with documented ABF/OSAT utilization and persistent constraints. |
| china-structural-discount | Credible governance de-risking or sustained earnings-supported multiple expansion with a volume-confirmed KWEB turn. |
| ai-capex-digestion | Verified hyperscaler guide-down together with supplier deterioration escalates risk; spending and software repair weaken it. |
| physical-ai-robotics | Named component supplier verifies relevant design wins, defensible content and profitable revenue conversion. |
| quantum-computing | Filed financing and runway, repeatable commercial receipts and a confirmed price base. |
| ai-mega-ipo-liquidity-regime | Actual issuer filing and reconciled float, lockup and passive-demand dates. |
| trump-policy-ticker-catalyst-watch | Direct primary statement with an event response surviving earnings, analyst and sector controls. |
| midterm-window | Complete the registered breadth, cyclical and volatility conjunction; calendar alone does not activate it. |
| drone-defense | Verified procurement conversion, margins and execution with revenue assessed against share growth. |
Review the operating slate after the September 11 close, incorporating the Climate note's dated inflation, financing and shipping tests. Issuer developments can prompt earlier review. Primary status is a research priority; the Names phase decides entries.
Evidence commissions and material changes
Twenty-one perspective-update questions remain needs-evidence, each with ready → claimed → needs-evidence lifecycle receipts. Midterm needs a review log but no missing-current-price commission. The affirmative memory/electricity evidence survives their unresolved falsifier and branch questions.
| Perspective | Commission |
|---|---|
| ai-power-bottleneck | Evidence question |
| ai-power-delivery | Evidence question |
| gulf-infrastructure-strike | Evidence question |
| war-ends-playbook | Evidence question |
| gold-crash | Evidence question |
| optical-supercycle | Evidence question |
| us-energy-dominance | Evidence question |
| memory-supercycle | Evidence question |
| spacex-ipo-liquidity-event | Evidence question |
| nearline-storage | Evidence question |
| livestock-disease | Evidence question |
| biotech-capital-cycle | Evidence question |
| nuclear-fuel-cycle | Evidence question |
| cpu-shortage-supply-chain | Evidence question |
| china-structural-discount | Evidence question |
| ai-capex-digestion | Evidence question |
| physical-ai-robotics | Evidence question |
| quantum-computing | Evidence question |
| ai-mega-ipo-liquidity-regime | Evidence question |
| trump-policy-ticker-catalyst-watch | Evidence question |
| drone-defense | Evidence question |
Physical AI is the material perspective priority/conviction change and follows the directory-rename protocol. Other entries are bounded reviews, with no demonstrated business-thesis reversal; their historical directories are retained. The compute pillar loses its universal shared-constraint formulation, and the liquidity pillar loses automatic IPO-drain attribution.
Sources
Durable receipt bundle: original-date issuer capsules and URLs, historical model/test capsules, selected settled market fields, macro primary receipts and hashes.
U:SYMselectsmarket_rows[symbol=SYM];C:idselectsperspectives[id=id]; issuer IDs selectreceipts[id=id].marad-2026-004selects the standing maritime advisory inmacro_primary_receipts. Model-only selectors document a hypothesis and missing evidence, not a current business fact.Climate review and its frozen numeric receipts.
Canonical summaries supply every price/return/indicator; issuer releases supply qualitative business evidence. No raw provider fundamental figures or flattened operational metric cluster is asserted.
Prior process lessons: distinguish activity from evidence, narrow themes to the expression with proof, grade the original window, and state the missing test.
Canonical price authority:
research/market-engine/data/summaries/market-pulse.json,research/market-engine/data/summaries/focus.jsonandresearch/market-engine/data/summaries/neoclouds.json, September4 settled; frozen selected rows and dates in the sibling receipts.
Related
6 events DateTypeEvent
Sep 6 ArticleEIA: disrupted oil flows and a conditional recovery Sep 6 ArticleCoreWeave: delivered growth and financing demands Sep 6 ArticleGE Vernova: power and grid orders Sep 6 ArticleMPS: power conversion reaches customers Sep 6 ArticleSeagate: cloud storage and the density roadmap Sep 10 tweetTerry — Citi Global TMT readout: NAND TAM $50B to $500B by 2027, AMD CPU TAM $60B to $220B, optical testing capacity about 100x short Source links
Tweets, videos, filings, articles, and source pages tied to this read.
nebius.comNBIS-Q2-2026
investors.coreweave.comCRWV-Q2-2026
iren.gcs-web.comIREN-FY2026
ir.applieddigital.comAPLD-FY2026
investors.corescientific.comCORZ-Q2-2026
investors.terawulf.comWULF-Q2-2026
hut8.comHUT-Q2-2026
investors.cipherdigital.comCIFR-Q2-2026
investor.galaxy.comGLXY-Q2-2026
investors.cerebras.aiCBRS-Q2-2026