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Signals.
Facts, structure, interpretation, and the next observable.
ASML's record quarter ran on older tools, and it's now rationing the new ones.
ASML posted record €11.7B Q3 sales, says 2027 and 2028 supply will fall short, and is holding off on 2029 and 2030 orders. Lithography is now allocated.
GPUs are entering quantum error correction through calibration. The real-time loop is still unproven.
Riverlane moved decoder calibration to an H100. Alice & Bob decoded on GPUs, not in real time. IonQ decodes live on one CPU. Cycle time picks the hardware.
FERC sent PJM's data center curtailment plan back. The rulebook for large loads is moving to the states.
FERC rejected PJM's large-load curtailment plan as retail regulation, kept a 50 MW registry, and Ohio is routing a 10 GW SoftBank campus through a state path.
AMD pays $8.2B in stock for a model lab. The asset is a workload it can't buy from customers.
AMD will buy World Labs for about $8.2B in stock, its second-largest deal after Xilinx. It already kept ZT's design team and sold the factory.
Cloudflare's post-quantum certificate authority is a transparency-log play. Chrome wrote the entry rules.
Cloudflare will become a public CA and buy a GlobalSign root. Chrome lets only CT log operators issue post-quantum MTCs first. The log is the asset.
Xanadu's room-temperature quantum computer still needs a cold layer. Bluefors wants to sell it by the module.
Xanadu and Bluefors will prototype compact cryogenic modules for photonic detectors, in place of building-scale cryoplants. No dollar figure, specs, or dates.
U.S. coal retirements hit a 15-year low. The reason isn't policy. It's data center load.
U.S. retired only 2.6 GW of coal in 2025, the least in 15 years. EIA names data center load as the demand-side cause. PPAs and dispatch have decoupled.
Meta's $20B capex revision points at memory, not GPUs
Meta raised 2026 capex by $10B; Zuckerberg named memory pricing. SK hynix confirms three-year HBM shortage. Memory now binds AI infra cost more than logic.
Pain pharma underwrites 48,000-GPU edge network. The 'quantum' is encryption.
A $120M Scilex term sheet funds Datavault's edge GPU buildout. The quantum label points to encryption, not quantum compute.