Investing & Markets
Financial models and research on infrastructure, software buyouts and AI power.
Toll-road ownership
The nine-record table separates public title, concessions, equity, debt, operations and billing. North Tarrant Express’s sponsor shares cover the concession, while the land remains public and revenue rights run through 2061. SH 288’s termination proceeds repaid debt, including TIFIA, before any remainder became available to shareholders.
Comparable cash flows
Seven systems retain their own revenue definitions; only CTTS and Grand Parkway enter the per-$100 comparison on a common TxDOT FY2025 basis. The September 2, 2026 methodology separates road and system debt, cost recovery, tolling authority and concession rights.
25 software buyouts
The 25-deal 2020–2022 cohort totals $171.2 billion in mixed-definition headline values. By August 17, 2026, 23 remained sponsor-owned, one had transferred to creditors and one had partial liquidity. None met the clean control-exit definition; those statuses do not establish losses, returns or IRR.
- Sponsor-owned
- 23
- Creditor transfer
- 1
- Partial liquidity
- 1
A gigawatt of AI capacity
At power usage effectiveness (PUE) of 1.145 and 10% external IT overhead, the workbook yields about 402,574 B300 GPU equivalents per facility gigawatt in 142 kW, 72-GPU racks. Modeled capacity, utilized compute hours and paid workload remain distinct. Evidence cutoff: August 16, 2026.