$IREN earnings were pretty damn solid imo. They’ve now got about $4B of 2026 AI ARR contracted, around $1B already live, and they’re getting customers to prepay a big chunk of the GPU costs. Even better, new financing is covering roughly 90%+ of GPU capex, which could mean way
$UBER around $79 looks intriguing. You’re getting a business still growing bookings around 20%, throwing off $10B + in annual free cash flow, and buying back a ton of stock for a mid-teens FCF multiple. If autonomous vehicles end up running through Uber instead of replacing it,
$OPEN looks like an inflection at these prices. Housing has been beaten down badly lately. The big change here is that the new management team appears to be materially improving acquisition efficiency and unit economics while scaling volumes back up. At the same time, they’ve
$CRMT - A couple other thoughts after a deeper dive into the new proxy materials and noticed a few subtle positives for the workout thesis. The three restructuring professionals on the Special Committee, Paul, Nathan and Wartell, are all being nominated to stay on the board,
$CNVS - The more I dig into $CNVS Q1 and the call, the more I like this as a true inflection story. $CNVS is taking work that Giant Pictures historically performed with people and manual work and running much more of it through its own Matchpoint technology platform. This can
The $DGXX earnings call added a few things that make me more bullish. The biggest one is management says Alabama project financing is in advanced discussions and Goldman Sachs has been engaged to help syndicate it which is exactly the transition investors needed to see after DGXX
$DGXX Q2 was noisy on the headline numbers, but underneath it I think the AI transition is progressing nicely. Revenue was $6.6M and the company lost $14.4M, but $DGXX recognized its first $1.08M of NeoCloudz/SubQ AI revenue, put roughly $50M of Tier III AI assets into service,
$ACN Pzena more than doubled its $ACN stake to roughly $640M in Q2, which is a strong vote of confidence from a value-focused manager. Their thesis is basically the same one I have - AI may reduce some labor heavy work, but big companies will still need Accenture to integrate,
