The New Age Chanos. Short everything. CIO at Family Office. Wharton. MS. DB. Citi. EM specialist with a focus on GBPeso
Joined July 2010
- Tweets43.9K
- Following2.4K
- Followers7.8K
- Likes11K
MacroGuru retweeted
Reliance Industries is now trading at one of its cheapest valuations in the last decade
Current EV/EBITDA: ~8x
10 year median EV/EBITDA: ~12x
That is a ~33% discount to its historical median
And this comes after a quarter where Reliance delivered #Q2FY27 results significantly above expectations
O2C delivered its best ever quarter, while Jio continued to deliver mid teens EBITDA growth
Reliance still owns ~64.4% of Jio Platforms post IPO
It is now becoming an interesting sum of parts valuation case, with Jio's listing providing greater visibility into the value of the group's digital business
The question now is:
After years of underperformance and a valuation reset to ~8x EV/EBITDA, can Reliance start doing the heavy lifting for the indices again?
Ridiculously strong results.
LIVE: Reliance delivers strongest-ever quarterly performance!
Q2 consolidated revenue up 27.8% (YoY) to Rs 3.62 Lk Cr, highest-ever quarterly revenue
WATCH: youtube.com/live/6vwqL4OG5Z8
@blitzkreigm @Reematendulkar @sonalbhutra
👀 👀
Insurance and Pension funds won't be able to touch it.
Blackstone Says Anthropic May Miss Investment Grade After IPO
Anthropic may not secure investment-grade rating after IPO, Blackstone tells investors.
Private capital giant says AI group is expected to receive ‘high’ junk rating in shift from previous guidance
Blackstone told investors Anthropic may not receive an investment-grade rating immediately after going public, a reversal from its previous guidance that would complicate the AI lab’s ability to finance its massive spending.
The private capital giant told investors in Anthropic’s latest $63bn chip financing deal that the start-up is expected to receive a “high” junk rating from major credit rating agencies after its initial public offering, according to people familiar with the matter.
Blackstone is acting as an anchor investor on the deal, known as “Project North Star”, and is working with banks that stumped up financing on selling the debt on to other investors.
The AI lab’s prospectus sketched out its “bold but sane” plans to spend more than $800bn on computing infrastructure between now and 2045.
An investment-grade credit rating is central to those ambitions, enabling Anthropic to borrow at lower rates to finance its AI infrastructure projects.
The group has cash and equivalents of more than $112bn, and investors anticipate it could raise about $100bn more in the IPO.
While Blackstone had told its investment partners in recent months that it was expecting an investment-grade rating for Anthropic before year-end, it has recently signalled that a rating in the double B range or above is more likely given the guidance it has received from major credit agencies, the people said.
Such a designation would limit the pool of capital that Anthropic could tap because many insurance and pension funds are restricted from taking large positions in junk-rated borrowers.
As a result, the company might need to continue to rely on its suppliers with high credit ratings to support its debt-raising efforts.
Source: FT
Blackstone Says Anthropic May Miss Investment Grade After IPO
Anthropic may not secure investment-grade rating after IPO, Blackstone tells investors.
Private capital giant says AI group is expected to receive ‘high’ junk rating in shift from previous guidance
Blackstone told investors Anthropic may not receive an investment-grade rating immediately after going public, a reversal from its previous guidance that would complicate the AI lab’s ability to finance its massive spending.
The private capital giant told investors in Anthropic’s latest $63bn chip financing deal that the start-up is expected to receive a “high” junk rating from major credit rating agencies after its initial public offering, according to people familiar with the matter.
Blackstone is acting as an anchor investor on the deal, known as “Project North Star”, and is working with banks that stumped up financing on selling the debt on to other investors.
The AI lab’s prospectus sketched out its “bold but sane” plans to spend more than $800bn on computing infrastructure between now and 2045.
An investment-grade credit rating is central to those ambitions, enabling Anthropic to borrow at lower rates to finance its AI infrastructure projects.
The group has cash and equivalents of more than $112bn, and investors anticipate it could raise about $100bn more in the IPO.
While Blackstone had told its investment partners in recent months that it was expecting an investment-grade rating for Anthropic before year-end, it has recently signalled that a rating in the double B range or above is more likely given the guidance it has received from major credit agencies, the people said.
Such a designation would limit the pool of capital that Anthropic could tap because many insurance and pension funds are restricted from taking large positions in junk-rated borrowers.
As a result, the company might need to continue to rely on its suppliers with high credit ratings to support its debt-raising efforts.
Source: FT
It was CZ's laptop 😂😂
🚨🇺🇸 One hacked employee laptop just cost Binance an estimated $6.3 billion, the biggest crypto theft on record
Binance says attackers likely got in through a compromised DevOps engineer's laptop and pushed through unauthorized withdrawals, and it has frozen deposits and withdrawals while it investigates and promised to cover every customer's loss.
About $3 billion has been frozen so far, most of it in stablecoins after Tether and Circle locked the tokens within hours, but roughly $2.4 billion in bitcoin and ether is still in the attacker's wallets, and those have no company that can hit pause.
Bitcoin dropped more than 4% to under $78,000. The previous record, the Bybit hack in 2025, was $1.5 billion.
The lesson is uncomfortable for an industry that sells itself as unhackable: the money that could be stopped was the money controlled by a company, and the money that got away was the part nobody controls.
Getting it back now depends on the thieves trying to cash out through an exchange that cooperates, which can take months or years.
Source: CNBC / Writer: Daniel
Jensen was probably the Asset all along and she was just being used to relay the information 😂😂
Nvidia CEO Jensen Huang Reportedly Targeted In Chinese Spy Plot zerohedge.com/ai/nvidia-ceo-…
👀 👀
HSBC Seeks to Hedge Data Center Debt With Credit Risk Insurance
HSBC Holdings Plc is looking to offload credit risk on data center loans to insurers as demand for artificial intelligence-related finance continues to grow.
The bank is holding preliminary discussions with insurers about a series of project finance deals, some of which are tied to AI infrastructure, according to people familiar with the matter. The deliberations follow an earlier assessment of insurers’ appetite to cover a portfolio exclusively focused on data centers, they said, asking not to be identified because the matter is private.
There are early signs that credit markets are having difficulty digesting the flood of AI-related exposure. Yields on bonds and loans tied to the AI buildout are soaring, and some insurers have indicated their capacity is close to being exhausted.
source: bbg
5th time we are seeing identical slop from 'sources' in the last 24 hours....
US Involved In Ongoing Talks Centered On Temporary Peace Deal - Semafor
Reality....
- Irgc Navy Says 3 Tankers Hit Mines And Burned Off Hormuz Strait - Tasnim
VS
Pathetic attempt to pump markets ahead of the mid terms
- Vance wrote a letter to Rezae, that was made public 1 minute before US close.
- Barak ravid and the crooks @Axios been shilling about a peace deal @BarakRavid
Reality....
- Irgc Navy Says 3 Tankers Hit Mines And Burned Off Hormuz Strait - Tasnim
VS
Pathetic attempt to pump markets ahead of the mid terms
- Vance wrote a letter to Rezae, that was made public 1 minute before US close.
- Barak ravid and the crooks @Axios been shilling about a peace deal @BarakRavid
To clarify the CXMT bit was for fun, as they have been claiming major breakthroughs since they IPO'd
For example
- CXMT claimed they succeeded in achieving the 4F² threshold before Samsung and SK Hynix
The rest is true take the CXMT stuff with a grain of salt 😂
MacroGuru retweeted
The whole thing is ridiculous at point.
BREAKING: US issues final warning to Iran, telling Tehran it can avoid a strike only by handing its highly enriched uranium over to the United States, ending all attacks and military operations across the region, and opening the Strait of Hormuz, per Channel 12.
Iran rejected the proposals, which were delivered by Qatari mediators today. "The only thing we received is a list of unacceptable ideas. We will not compromise on the nuclear issue," a senior Iranian official told Reuters.
Iran said last week that not a single particle of enriched nuclear material would leave Iran.
It comes as the US and Israel are readying to launch heavy joint combat operations against Iran right after the midterm elections.