AI Utility

Stocks · key Fib levels

• BRUNBoost Run, Inc.

  $16.77last

  - fib

  Sells AI compute as a metered utility (GPU hours, managed clusters) to enterprises building on top of it.

  $940M backloganchored by Enterprise AI and HPC customers ($940M backlog, names undisclosed)
  • ▸**2023** : Boost Run founded; builds GPU-cloud infrastructure for enterprise AI / HPC
  • ▸**2026-05-08** : De-SPAC merger with Willow Lane Acquisition Corp (WLAC) closed; pre-money equity value ~$441.5M, ~$112M received from the trust
  • ▸**2026-05-11** : Began trading on Nasdaq under BRUN
  • ▸**Backlog** : $940M in long-term contracted revenue, ~3-year average contract terms
  • ▸**Hardware** : $1.44B GPU procurement agreement with Dell ($DELL)
  • ▸**2026 (guide)** : ~250% revenue growth vs the prior twelve months
  • ▸**Balance sheet (2025-12-31)** : cash $9.7M; working-capital deficit $21M; lease liabilities $39.7M; accumulated deficit $17M
  • ▸**Coverage** : Craig-Hallum initiated Buy (inference-compute demand)
  • ▸**2026-05 to 2026-07** : public warrant exercises raise over $45M gross since the business combination closed
  • ▸**2026-07-21** : notice of redemption issued to all holders of outstanding public warrants; unexercised warrants redeemed at $0.01 each after 5:00pm NY on 2026-08-20, which forces the exercise decision
  • ▸**2026-07-24** : ~45% of public warrants exercised for $58.8M gross; ~4.0M of the 11.47M public warrants converted, ~7.5M still outstanding. Full exercise of the remainder would take total proceeds to ~$131.9M
  • ▸**Share count** : 31,895,656 Class A shares outstanding per the 10-Q cover (2026-06-01), before the warrant conversions above
• CIFRCipher Mining Inc.

  $18.26last

  $17.00fib

  +7.4%vs fib
  $6.9B backlog600 MWanchored by Fluidstack · GOOGL · AWS
  • ▸Barber Lake: 300 MW fully contracted with Fluidstack
  • ▸Google backstops $1.4B with ~5% equity stake
  • ▸Separate AWS $5.5B 15-year deal for another 300 MW
• CRWVCoreWeave, Inc.

  $89.60last

  $96.00fib

  −6.7%vs fib
  $67B backloganchored by OpenAI · META · Anthropic
  • ▸~$67B contracted revenue backlog (~$88B including Anthropic)
  • ▸Major commitments from OpenAI and Meta
• IRENIREN Limited

  $45.90last

  $43.00fib

  +6.7%vs fib
  $10B backlog2.9 GWanchored by MSFT
  • ▸2025-09 - ~$10B MSFT 5-year cloud contract signed (anchor customer; backlog pinned in stocks.contracted_backlog_usd_b)
  • ▸2026-05-01 - Sweetwater 1 (1.4GW Texas data center) energized - first phase of the path to 4.5GW+ grid-connected
  • ▸2026-05-05 - Mirantis acquired for $625M all-stock - adds AI cloud orchestration stack; direct dilution overhang on the float
  • ▸2026-05 - GPU fleet ramp target 150K incl. 50K NVIDIA B300s (path toward the $3.4B ARR target by year-end 2026)
  • ▸2026-05 - Cantor cut PT $82 → $61, kept Overweight. Sell-side avg PT $62.50 - spot has been running ABOVE consensus
  • ▸2026-05-07 - Q3 FY26 reports AH. Estimates: -$0.22 EPS (yfinance: -$0.26), $219.69M revenue (+43.8% YoY). Last Feb quarter was a brutal revenue miss ($184.69M vs $227.33M est) - that's what nuked the stock from $61 to $30
  • ▸Snapshot 2026-05-07: spot $56.85 (intra-week pull from $67.60 high), mcap ~$18.86B, P/S ~24.9x, fwd PE ~44.9x. Gross margin 68.1%, operating margin -45.8%. Cash $3.26B vs debt $3.84B, current ratio 4.96. Beta 4.18, avg vol ~34.7M, 52w range $6.76 - $76.87
  • ▸Setup tension: real catalyst stack (Sweetwater + Mirantis + 150K GPUs + $10B MSFT) priced INTO the parabola from $30 → $67 in 5 weeks, with spot now above sell-side consensus. Tonight's print needs a clean revenue beat plus AI-cloud guidance to justify the multi expansion; bear-case is recent revenue-miss history + Mirantis dilution overhang. Counter-case clean: a breakout above $77 (Oct gap top) faces zero overhead supply
• NBISNebius Group N.V.

  $248.34last

  $113.00fib

  +119.8%vs fib
  $46B backloganchored by MSFT · META · NVDA
  • ▸~$46B contracted backlog
  • ▸~$19B Microsoft deal
  • ▸~$27B Meta partnership through 2032
  • ▸$2B equity check from NVDA
• VSTVistra Corp.

  $138.66last

  $140.00fib

  −1.0%vs fib
  50.0 GWanchored by Meta · Helix Digital Infrastructure (KKR / NVIDIA / KIA) · Hyperscalers (undisclosed)
  • ▸2026-01-09 - 20-year PPAs with Meta for 2,609 MW of carbon-free nuclear from the PJM fleet: 1,268 MW Perry and 908 MW Davis-Besse operating (2,176 MW), plus uprates of 213 MW Perry, 80 MW Davis-Besse and 140 MW Beaver Valley (433 MW)
  • ▸Delivery schedule - part of the operating volume from late 2026, full operating delivery by year-end 2027; uprate volumes from 2031, full by year-end 2034. Largest nuclear uprates supported by a corporate customer in the US
  • ▸2026-06-11 - Helix Digital Infrastructure launched by KKR with the Kuwait Investment Authority and NVIDIA, more than $10B of long-duration capital commitments, led by former AWS CEO Adam Selipsky. Vistra named preferred power provider
  • ▸Cogentrix acquisition - 10 gas-fired plants, about 5.5 GW, $4B, lifting the portfolio toward ~50 GW across 18 states
  • ▸Nuclear fleet - 6,448 MW: Comanche Peak (TX) plus the four former Energy Harbor reactors (Perry, Davis-Besse, Beaver Valley 1 and 2) in OH and PA. Second-largest competitive nuclear fleet in the US
  • ▸Retail - TXU Energy and Dynegy serve about 5M customers, matching wholesale length against a retail book
  • ▸Q2 2026 (reported 2026-08-07) - adjusted EBITDA $1.767B, up 30% year over year; FY2026 guidance reaffirmed at $6.8B to $7.6B adjusted EBITDA

Co-movement matrix (252d)